SNX PRICE PREDICTION 2024-2033: IS SNX A GOOD INVESTMENT?

SNX Price Prediction 2024-2033

How much is SNX worth?

Today’s live Synthetix price is $4.076, with a 24-hour trading volume of $63,982,955, an increase of 3.83% over the last 24 hours. Synthetix is up 48.38% in the last 24 hours. The current CoinMarketCap ranking is #66. The coin currently has a live market cap of $1,244,263,922. It has a circulating supply of 304,642,081 SNX coins, and the max. supply is not available.

Synthetix price analysis

Synthetix price analysis: SNX moves towards $4.0 as bulls strive for control

Synthetix price analysis shows an uptrend today
Support for SNX/USD is present at $3.279
Resistance for SNX is present at $4.102

Synthetic performance shows that the SNX market has exhibited a lateral movement throughout the day’s trading session. Within 24 hours, the SNX/USD pairing fluctuated between $3.279 and $4.102.

Synthetix is now experiencing a bullish momentum, with the price almost surpassing its resistance level. The current price of $4.076 suggests positive market sentiment and further upward movement in the near term.

SNX price analysis 1-day chart: Bullish momentum builds as SNX approaches key resistance

The 1-day price chart analysis of Synthetix indicates a bullish trend for the day, as the price has surged above initial expectations. A significant increase in bullish momentum has propelled the price upward, resulting in a value of $4.076.

Technical analysis of the SNX coin reveals a mixed picture, with key indicators suggesting a cautious outlook. With the Relative Strength Index (RSI) currently at 65.59, SNX appears moderately overbought, indicating a potential weakening of bullish momentum.

The Bollinger Bands indicate a narrow trading range, with the upper band presenting a resistance level of $4.102 and the lower band indicating a support level of $3.279. This suggests a period of consolidation and potential price reversal. Traders should exercise caution and closely monitor price action for confirmation of either a breakout above resistance or a breakdown below support to determine the next directional bias in SNX’s price movement.

Additionally, it would be prudent to consider other technical and fundamental factors alongside these indicators to make well-informed trading decisions.

SNX 4-hour price chart overview: SNX price finds stability at $4.07

The 4-hour price chart analysis of Synthetix reveals a bearish sentiment as the price currently sits at $4.077, reflecting a downward trajectory. Despite minor fluctuations, the overall trend indicates bullish momentum dominating the market.

SNX coin indicates a moderately bullish stance amidst key indicators. With the Relative Strength Index (RSI) at 65.59, SNX appears slightly overbought territory, signaling potential upward pressure.

The Bollinger Bands further support this sentiment, with the upper band acting as a resistance level at $4.211 and the lower band establishing a support level at $3.741. This suggests a tightening trading range, potentially paving the way for a breakout above the resistance or a bounce off the support.

Traders should closely monitor price action for confirmation of a sustained move in either direction while considering additional technical factors such as volume and trend analysis to validate potential trading strategies. The current setup presents opportunities for short-term momentum plays and longer-term trend-following strategies, contingent upon price confirmation and risk management practices.

Is Synthetix (SNX) a good investment?

Synthetix (SNX) emerges as a compelling investment opportunity due to its innovative protocol and potential for growth. As a decentralized synthetic asset platform, Synthetix enables the creation and trading of synthetic assets representing various real-world assets, including fiat currencies, commodities, and cryptocurrencies. Its unique approach to tokenizing assets offers users exposure to a wide array of assets without the need for intermediaries or liquidity providers.

Synthetix leverages a decentralized governance model to ensure community participation and protocol upgrades. Synthetix continues to expand its ecosystem and user base. Our Cryptopolitan Price Prediction section can offer valuable perspectives on SNX’s future value trajectory, aiding investors in their decision-making process.

Synthetix Recent News

SNX surges alongside DEX tokens amidst governance proposal announcement

Synthetix (SNX) experienced a notable surge in performance, along with other Decentralised Exchange (DEX) tokens. While the Uniswap (UNI) token led the rally with a remarkable 70% surge, SNX, alongside dYdX, PancakeSwap (CAKE), and THORChain (RUNE), also saw significant gains of over 30%.

This surge in performance was attributed to a major governance proposal unveiled by Uniswap, the largest DEX in the industry. The proposal can potentially reshape the operations of decentralized networks within the industry. As a result, SNX and other DeFi tokens like AAVE and Lido DAO showcased strong performance amidst the broader rally in the DEX sector.

SNX Price Prediction 2024 – 2033

SNX Price Prediction by Cryptopolitan

Year	Minimum Price	Average Price	Maximum Price
2024	$5.40	$5.59	$6.28
2025	$7.76	$8.04	$9.47
2026	$11.05	$11.46	$13.36
2027	$16.35	$16.81	$19.20
2028	$23.82	$24.66	$28.00
2029	$34.95	$36.18	$41.64
2030	$48.76	$50.57	$61.11
2031	$70.74	$72.77	$86.19
2032	$100.05	$103.69	$118.91
2033	$145.07	$149.22	$172.83

SNX Price Prediction 2024

Our SNX price prediction for 2024 is a maximum price of $6.28. The coin’s minimum price will be $5.40, and the average price will be $5.59.

SNX Price Prediction 2025

According to our SNX price prediction for 2025, the maximum price is $9.47. The coin’s lowest price will be $7.76, and the average trading price of the coin is $8.04.

SNX Price Prediction 2026

According to our SNX, the price forecast for 2026 is a maximum of $13.36. The minimum price the coin will have by the end of 2026 will be $11.05, while its average trading price will be $11.46.

SNX Price Prediction 2027

Our SNX price prediction for 2027 is a maximum price of $19.20 with a minimum price of $16.35. We also expect the coin’s average trading price to be $16.81.

SNX Price Prediction 2028

According to our SNX price prediction for 2028, we expect a maximum price of $28.00. The minimum price of the coin by 2028 will be $23.82; the average trading price is forecasted to be $24.66.

SNX Price Prediction 2029

According to our SNX price prediction for 2029, there is a maximum price expectation of $41.64 with an average trading price of $36.18. The coin will have the lowest price at $34.95.

SNX Price Prediction 2030

Our SNX price prediction for 2030 is a maximum price of $61.11; the coin’s lowest price is $48.76. The average trading price of the coin will be $50.57.

SNX Price Prediction 2031

According to our SNX price prediction for 2031 is a maximum trading price of $86.19, with an average trading price of $72.77. The minimum price of the coin will be $70.74.

SNX Price Prediction 2032

Our SNX price prediction 2032 is a maximum trading price of $118.91, with an average trading price of $103.69. The minimum price of the coin will be $100.05.

SNX Price Prediction 2033

According to our SNX price prediction for 2033, it could be a maximum price of $172.83. The minimum price is $145.07, and the average trading price of the coin will be $149.22.

SNX price prediction by Walletinvestor

Wallet Investor uses smart technical analysis to provide the Synthetix price forecast. The analysis indicates SNX’s past performance index rating as B+; it adds that SNX is an ‘outstanding’ one-year investment. The expected average price in 2025 will be $5.097. The return on investment (ROI) will be 43.5% in 2025. In 2026, the ROI will be 83.8%; in 2027, it will be 124.5%; in 2028, it will be 161%. According to the analysis, the bullish SNX price trend continues over the entire period.

SNX price prediction by Cryptopredictions

The site scans a coin’s exchange rates and other historical crypto market data and uses these data to provide SNX coin price prediction. In 2025, SNX will trade at an average price of $4.219 in January and $5.166 in December. In 2027, SNX will sell at an average price of $6.339 in January and $7.245 in December.

SNX price prediction by Digitalcoinprice

According to Digitalcoinprice’s SNX price forecast, SNX is expected to maintain a bullish trajectory from 2024 to 2033. It is projected to reach a peak of $69.09 during this period. In 2025, the average trading price is anticipated to be around $8.45, with a potential high of $9.18 and a low of $7.65.

By 2027, SNX may see an average price of $15.27, with a maximum price of $15.97 and a minimum of $13.68. Looking further ahead to 2030, SNX is forecasted to have an average trading price of $26.09, with a potential high of $26.57 and a low of $23.99.

SNX Price History

The Synthetix token was first listed on a crypto exchange for trading in March 2018. Until June 2020, the SNX was trading below $1.5, as seen in the chart below.

However, in July 2020, the Synthetix coin unleashed a monster bullish rally that continued until February 2021. And during the bullish momentum, the SNX hit an all-time high of $28.77.

After hitting an all-time high, the SNX price took a downward turn dropping to as low as $1.5 in 2023. It later began correcting and was trading at the $3.5 mark in 2024.

Source: Synthetix Network Token Price, Charts & Market Insights | Your Crypto Hub

Market Overview

MARKET CAP	24 HR VOLUME	CIRCULATING SUPPLY	POPULARITY	HOLD TIME
$1,244,263,922	$63,982,955	304,642,081	66	23 Days

More on the SNX

SNX is the native cryptocurrency of the Synthetix network. The SNX token is an ERC20 token, and therefore it is compatible with ETH wallets. Besides facilitating activities (specifically to offer collateral) within the Synthetix network, SNX holders can become SNX stakers by staking their SNX coins to earn staking rewards.

Who is the Synthetix founder?

Synthetix network was launched in September 2017 under Havven (HAV). Its founder is Kain Warwick. Havven (HAV) rebranded to the current Synthetix name a year later, a name it has maintained to date. Warwick is also the founder of Pouncer, a live auction Australian site, and a non-executive director at Blueshyft retail network.

What is the Synthetix network?

Synthetix Network is a decentralized finance (DeFi) protocol that allows users to trade synthetic assets (synths). The protocol is built on the Ethereum blockchain, and it provides liquidity for synth tokens so that traders can seamlessly trade them.

The platform enables users to issue and trade synthetic assets — digital assets that represent other real assets like stocks, fiat currencies, commodities, or cryptocurrencies. It also has a staking mechanism that incentivizes users to provide liquidity and maintain the platform.

The Synthetix Protocol was originally conceived as Havven back in 2017 by Kain Warwick. Warwick is currently also a Non-Executive Director of blueshyft- a network of over 1200 retail locations around Australia.

SNX is a derivative product

In a nutshell, synthetic assets are derivative products issued and traded on DeFi protocols. They are similar to traditional derivative products that derive their value from underlying assets like cryptocurrencies, fiat currency, commodities, precious metals, bonds, and stocks.

The underlying assets are cataloged onto a DeFi protocol like the Synthetix network through tokenization by using smart contracts. Then the tokens, which represent a certificate of ownership of the real-world assets, are issued to investors and traders who can then go ahead and trade the derived assets without holding the real-world assets.

Synthetix’s unique features

Synthetix network was among the first blockchain protocols to introduce synthetic crypto assets.

The synthetic cryptocurrency assets minted via the Synthetix protocol are synths and have an ‘s’ at the beginning of their names. If the underlying asset is the USD, for example, the synthetic help on Synthetix would appear as sUSD, BTC would appear as sBTC, ETH would appear as sETH, and so on.

The community voted the synths for to exist on the Synthetix protocol.

The prices of the underlying assets of the synths are tracked using smart contract price delivery protocols known as oracles. This system ensures no slippage or liquidity issues when trading the synths.

To mint a synth on the Synthetix network, a user will have to lock up some SNX tokens in a smart contract.

How to Stake SNX

If you truly want to make money staking SNX, there are a few easy steps involved.

First, you need to buy Synthetix and connect to a web3 wallet.
Visit Mintr, the portal interface for minting and managing Synths.
Connect your web3 wallet to Mintr.
Click ‘Mint’ and choose what type of Synth you want to mint.
Remember to maintain the collateralization ratio.
Input the number of Synths you want to mint.
Click ‘Mint Now’.
Confirm the transaction in your web3 wallet.

Afterward, your SNX token will automatically be staked. You will now be able to enjoy rewards generated from trading fees. Furthermore, you are also subject to inflation rewards.

Conclusion

The Synthetix (SNX) coin has bullish momentum, nearing the $4.1 mark, as bulls assert control over the market. Today’s price analysis reveals a clear uptrend, experiencing a lateral movement throughout the trading session. However, recent developments suggest a shift towards a bullish sentiment, with the price nearing its resistance level at $4.102.

Analyzing the 1-day chart, SNX demonstrates a significant surge in bullish momentum, exceeding initial expectations and reaching $4.076. However, caution is warranted as the Relative Strength Index (RSI) indicates a moderately overbought condition, potentially signaling a weakening of bullish momentum.

The Bollinger Bands also depict a narrow trading range, with resistance at $4.102 and support at $3.279, suggesting a period of consolidation and a potential price reversal. Traders are advised to closely monitor price action for confirmation of a breakout or breakdown to determine the next directional bias.

Similarly, the 4-hour chart reflects a bearish sentiment, with SNX stabilizing at $4.077, indicating a prevailing downward trajectory despite minor fluctuations. With the RSI hovering in slightly overbought territory and the Bollinger Bands tightening, traders should exercise caution and consider additional technical and fundamental factors when trading.

In recent news, SNX surged alongside other DEX tokens following the announcement of a major governance proposal by Uniswap, the largest DEX in the industry. This proposal has the potential to reshape decentralized networks within the industry, contributing to the strong performance of SNX and other DeFi tokens like AAVE and Lido DAO amidst the broader rally in the DEX sector. As SNX continues to navigate these developments, traders should remain vigilant and adapt their strategies accordingly.