Synthetix price prediction 2024

The article “Synthetix price prediction 2024” delves into the forecasted price trends of SNX from the years 2024 to 2030, aiming to provide insights for potential investors. With SNX’s average price prediction for 2024 at $3.53 and an estimated high of $44 in 2030, investors are keen on understanding if SNX is a lucrative investment option. Despite the recent bullish activity driving the price of SNX to $2.182, the market analysis showcases the potential for further upwards movement. Partnered with prominent exchange listings and a decentralized protocol allowing transaction of synthetic tokens, SNX’s long-term potential is indicated by forecasts predicting a lucrative future for the token. Key takeaways

• The average SNX price prediction for 2024 is $3.53.

• In 2025, it will range between $4.91 and $5.83, with an average price of $5.09.

  

• In 2030, it will range between $31.41 and $37.72, with an average price of $32.39.

Overview

Cryptocurrency: Synthetix

Abbreviation: SNX

Current Price: $2.58

Market Cap: $714,268,107

Trading Volume: $13,421,995

Circulating Supply: 327,769,196

All-time High: $28.77, on Feb 14, 2021

All-time Low: $0.03258, on Jan 5, 2019

24-hour High: $2.66

24-hour Low: $2.52

SNX is the native token for the Synthetix Network and is used for governance. It is listed on top exchanges like Binance, Uniswap, Coinbase, OKX, and Bybit. Synthetic is a decentralized protocol that allows you to create and transact synthetic tokens on the Ethereum blockchain.

Is SNX a good investment? Will it go up? Where will it be in five years? Let’s get into the SNX price prediction and technical analysis.

SNX price prediction: Technical analysis

Metric Value

Volatility (30-day Variation) 9.58%

50-day SMA $ 2.69

200-day SMA $ 3.50

Sentiment Bearish

Fear & Greed Index 71 (Greed)

Green Days 15/30 (50%)

Synthetix price analysis: SNX value elevates up to a swift $2.182 high

Synthetix price analysis confirms an uptrend. The coin value has spiked up to $2.182. Support is present at the $2.003 end.

The Synthetix price analysis for June 16, 2024, depicts signs of an increasing trend. Although the bears remained on the dominant side in the past few weeks, the bulls have secured the lead since yesterday. The cryptocurrency value has achieved sufficient recovery because of the latest bullish comeback. The buying activity seems to be intensifying quickly over the past 24 hours. Therefore, the cryptocurrency value has hiked up to $2.182 in the past 24 hours. A further rise in bullish activity can be anticipated soon pertaining to the buying pressure.

SNX/USD 1-day Chart: Cryptocurrency launches above the $2.182 hurdle

The daily Synthetix price analysis favors cryptocurrency buyers for the day. The past few weeks have proved highly detrimental to the cryptocurrency progression. An intense bearish wave enveloped the market, with few instances of bullish recovery. However, the bulls have gained momentum since yesterday. In the past 24 hours, a further aggravation in the upward swing was observed as well. The overall value of the SNX/USD pair has spiked up to $2.182 during the day. The moving average (MA) indicator displays a descending curve on the one-day price chart. That is because of the continual bearish pressure observed in the last two weeks. The overall value of the indicator has sunk to $2.276 following the bearish cloud.

SNX/USD 4-hour Chart: Cryptocurrency crumbles to $2.182 after a downturn

The hourly Synthetix price analysis depicts a bearish scenario regarding the current market events. Although a clear bullish strike was observed in the earlier hours of the day, currently the bears are on the lead. A sufficient rise in bearish activity has been observed over the span of the past four hours. The overall sentiment of the market remained bearish, considering the intensifying bearish momentum. This has resulted in a clear decline in the coin value as it has receded below the $2.182 marker. If the bearish momentum aggravates further, the coin value can experience further losses in the coming hours. The moving average indicator confirms the uptrend since yesterday. Its overall value has improved up to $2.183 and is now above the overall coin value. The upward curve of the indicator demonstrates the bullish sentiment over the past two days.

SNX technical indicators

Daily simple moving averages

Period Value ($) Action

SMA 3 2.47 SELL

SMA 5 2.41 SELL

SMA 10 2.43 SELL

SMA 21 2.61 SELL

SMA 50 2.69 SELL

SMA 100 3.32 SELL

SMA 200 3.50 SELL

Daily exponential moving averages

Period Value ($) Action

EMA 3 2.61 SELL

EMA 5 2.71 SELL

EMA 10 2.79 SELL

EMA 21 2.81 SELL

EMA 50 2.96 SELL

EMA 100 3.20 SELL

EMA 200 3.25 SELL

What can we expect from SNX price analysis next?

The daily and hourly Synthetix price analysis supports the cryptocurrency buyers for now. A strong upswing has been observed since yesterday because of the intensifying bullish activity. The overall value of the SNX/USD pair has recovered up to $2.182 as a result of the turnover in the past 24 hours. On the opposite side, the four-hour price analysis gives out a relatively bearish prediction regarding the hourly price movements.

Is SNX a good investment?

The Synthetix rebranding in 2018 rejuvenated the ecosystem, which has grown continually with multiple listed synths. Despite concerns over the stability of its stablecoins, SNX, the native token is set to mark new records, as we shall explore in Cryptopolitan’s SNX price predictions from 2024 to 2030. It is expected that SNX will reach $44 by 2030.

Recent news/ updates

• Synthetix layer V3 is live on the base network, but only the Kwenta and Toros networks have integrated the V3 layer. Vyberdex, Infinix, Ethena, and some other networks are also going live and will bring their communities on board.

• Synthetix distributed its Epoch 2 rewards for Synthetix Preps traders on the Base network. Synthetic Preps traders have been given fee rebates. Epoch 3 is also underway, and traders can receive up to 90% rebate on their trading fees.

SNX price prediction June 2024

SNX will break out higher after consolidating. A break above the 78.60% Fibonacci will result in a mini bull run with the next target at $3.03. It will average at $2.70 and trade at a minimum price of $2.0.

SNX price prediction 2024

The price of SNX is predicted to reach a minimum value of $3.73 by Q4 of 2024. Traders can anticipate a maximum value of $4.38 and an average trading price of $3.88.

SNX price prediction 2025 – 2030

Year Potential Low ($) Potential Average ($) Potential High ($)

2025 5.23 5.42 6.57

2026 7.76 8.03 9.22

2027 11.46 11.78 13.42

2028 17.21 17.80 19.93

2029 24.97 25.86 30.08

2030 38.41 39.44 44.36

Synthetix market price prediction: Analysts SNX price forecast

Firm 2024 2025

Changelly $4.08 $5.95

DigitalCoinPrice $5.44 $6.44

CryptoPredictions $4.37 $4.86

Cryptopolitan’s Synthetix (SNX) price prediction

Our analysis shows that SNX has been highly volatile since its historical listing price. It remains range-bound at current levels, with predictions indicating it will break out higher. SNX will achieve a high of $4.38 in the second half of 2024. In 2025, it will range between $5.23 and $6.57, with an average of $5.42. Note the predictions are not investment advice. Seek independent professional consultation or do your own research.

Synthetix historic price sentiment

Kain Warwick launched Synthetix in September 2017 under Havven (HAV).

The HAV Airdrop Campaign ran between 4 and 14 February 2018 and offered two million tokens for around $1 million.

On November 30, 2018, Synthetic announced its rebranding from Havven. This included renaming its native token, HAV (Havven token), to SNX. The contract address did not change.

It registered its lowest price at $0.03258 on January 5, 2019.

Different from most mega-altcoins, SNX did not rally after launch; it consistently traded below $0.5 until the last quarter of 2019.

In 2020, it made a mega rally to $7.3. In the 2021 bull cycle, it shot higher, and on February 14, it registered its all-time high at $28.77.

It reversed to $5 in July before pumping again to $15 in September.

In the 2022 crypto winter, SNX shed most of its value as it retreated to the $2 mark by the end of the year.

In 2023, it consistently traded between $1.5 and $3 until the last quarter, when it had its break. In March 2024, SNX reached a high of $5; in June, SNX is trading within the $2.18 – $2.44 range.