Synthetix is Losing Momentum
Synthetix (SNX) is up 3.0% this week, trading at $1.650, lagging behind the broader market where Bitcoin (BTC) surged 10.0% to a new all-time high of $97,890. Earlier in the week, SNX rallied by 19.7% to $1.909 but failed to sustain those gains, retreating after hitting the middle of its ascending channel.
While an upside recovery remains the likely scenario, it faces a strong resistance zone at $1.900-$2.000. If SNX manages to break through this level, it could gain significant momentum, potentially rising by 50% to reach $3.000.
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