SNX facing two possible scenarios.
Hello, dear TradingView members.
This idea is an SNX analysis.
It looks like SNX is getting rejected by the downtrend channel after moving 5% up.
The price is now consolidating on a local support level. There are two possible scenarios considering the static resistance on the way up.
First scenario:
The price can push up and pass the dynamic resistance, which is the upper band of our downtrend channel, and then continue to move higher after a pullback and confirmation.
Second scenario:
The price can get rejected by the dynamic resistance zone and land on the support levels.
RSI is overbought, so the price has room to go down.
The Speedometer indicator shows Sell volumes on the market for SNX on a 1D interval.
Now have in mind: ANY news about this coin can cause a big pump or dump at this moment!
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This idea is an SNX analysis.
It looks like SNX is getting rejected by the downtrend channel after moving 5% up.
The price is now consolidating on a local support level. There are two possible scenarios considering the static resistance on the way up.
First scenario:
The price can push up and pass the dynamic resistance, which is the upper band of our downtrend channel, and then continue to move higher after a pullback and confirmation.
Second scenario:
The price can get rejected by the dynamic resistance zone and land on the support levels.
RSI is overbought, so the price has room to go down.
The Speedometer indicator shows Sell volumes on the market for SNX on a 1D interval.
Now have in mind: ANY news about this coin can cause a big pump or dump at this moment!
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
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