SNX trades at $0.5859 after an 11.2% weekly decline while holding above its key support at $0.5447.
The token moves within a narrow $0.5447–$0.5981 range as price tests resistance after crossing a long trendline.
SNX posts gains of 1.5% against BTC and 2.8% against ETH despite its broader dollar-based decline.
Synthetix recorded another active session as the token moved near its short-term levels after a week of heavy downside. Its price traded around $0.5859, which followed an 11.2% decline over the past seven days. This movement came after an extended slide that kept the token inside a steady downward structure for several sessions
The chart also showed price pushing slightly above a long trendline, and this development shifted attention toward the current trading band. However, the market still focused on the $0.5447 support level, which held through the week and shaped the broader structure. This environment created a defined setup that guided short-term evaluation across the market.
SNX Trades in a Tight Range as Cross-Pair Strength Emerges Despite Dollar Weakness
SNX held close to its support zone, and this behavior kept the latest 24-hour activity restrained. The token moved between $0.5447 and $0.5981, which formed a narrow band for a volatile week. This range showed consistent monitoring of both levels, especially as price approached the higher end after several sessions of weakness. Notably, the resistance level at $0.5981 remained unchanged, and the market watched how price interacted with it. This created a clear link to the next development, as traders evaluated the zone carefully due to its proximity to the upper boundary.
SNX posted slight increases against major pairs despite its dollar decline. The token gained 1.5% against BTC, which contrasted with its negative weekly performance. It also advanced 2.8% against ETH, and this movement added another layer to the short-term structure. These shifts showed how trading flows differed across pairs during the same period. Furthermore, this activity helped define how market participants assessed short-term strength while the dollar chart held a much tighter formation. These dynamics also linked directly to the broader structure highlighted earlier.
Price Breaks Above Trendline as Market Monitors Short-Term Behavior
The chart showed SNX trading above a long trendline, which marked a notable structural shift. Price moved past the line after several failed attempts in prior sessions. This development placed attention on the immediate resistance zone, especially as the range remained narrow. However, the focus stayed on how the token behaved inside this band, as observers tracked any continuation of the latest movement and monitored whether price would remain above the trendline.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
CryptoQuant: Bitcoin and Gold Correlation Falls to Nearly 4-Year Low, Showing Clear Divergence in Trends
The correlation between Bitcoin and gold has fallen to its lowest level since November 2022, showing a clear divergence in their trajectories. Despite Bitcoin's recent rebound to $70,000, bearish pressure is intensifying, and investors need to monitor key support levels and gold price movements to gauge market direction.
GateNews11m ago
XRP breaks through $1.5 neckline, key EMA resistance determines short-term trend, potential to test $2
XRP recently broke through the $1.5 resistance level, creating a new closing high. Analysts point out that the short-term support level is at $1.5, which needs to hold to continue the uptrend. If this level breaks, the $1.42 support can be referenced as an alternative. A breakout above three EMAs is needed to confirm a bullish reversal. Market participants should pay attention to price movement and changes in technical indicators.
GateNews25m ago
Hyperliquid Price Jumps 22% as Commodity Trading Hits Record
Key Insights:
Hyperliquid surged over 20% weekly, driven by record commodity futures trading volumes, especially oil and silver contracts, gaining strong traction among traders.
Whale activity surpassed $3.6 billion in leveraged positions, boosting liquidity and reinforcing upward momentum a
CryptoFrontNews29m ago
Bitcoin Falls Below $70,000: PPI Exceeds Expectations + Powell's Hawkish Stance, Rate Cut Expectations Dampened
On March 19, Bitcoin pulled back to a key support zone due to unexpected U.S. inflation data and hawkish signals from Federal Reserve Chair Powell, declining over 4.6% and currently trading near $70,800. Market expectations for rate cuts have cooled, with the total crypto market cap declining to approximately $2.51 trillion and sentiment remaining cautious. If Bitcoin breaks below $70,000, it could potentially decline further to $65,000. Market momentum is highly dependent on macroeconomic factors.
GateNews35m ago
Bitcoin Fails to Break Higher: Why the $70,000 Level Remains Elusive? Key Indicators Reveal Upside Concerns
Bitcoin recently briefly broke through $74,000 but pulled back to around $70,800 due to selling pressure from short-term holders. While the price shows an upward trend, it faces structural resistance, and the current movement appears more like a bear market rally rather than the start of a bull market. Without effectively resisting selling pressure, it could break below the $70,000 support level. The market is still waiting for clearer signals.
GateNews42m ago
TAO Price Surges 43% Before Hitting Key Resistance: Huang Ren-hsueh AI Narrative Drives Rally, But Pullback Risks Are Accumulating
Driven by artificial intelligence narratives, Bittensor (TAO) has increased by 43% in the short term and is approaching a resistance zone, but it faces the risk of a price slowdown. Market sentiment is linked to the NVIDIA CEO's speech, and the upward momentum driven by emotions is limited. Technical indicators show overbought conditions, and a short-term pullback below $250 is possible. If it breaks through $300, it could rise to $312 or $329. Investors should pay attention to changes in market sentiment and capital flows.
GateNews1h ago
