Synthetix (SNX), the recent shining star of DeFi, attracted great attention with its bullish pricing.
DeFi, one of the legendary trends of a period, has recently started to come to the fore again with SNX. With BTC stepping into the rising season, SNX stepped up and left its mark especially on the DeFi market with an increase of 113.73 percent in the last 40 days. In addition, could SNX, which managed to remain solid even during BTC’s intermediate corrections, be a driving force for DeFis while experiencing its own bull?
Positive pricing can start a trend again!
SNX, one of the leading representatives of DeFi, has been attracting great attention recently. The popular coin, which has been on the scene with its voluminous and steady rises since $2.20, is traded at $4,386 as of the writing of the news. We may observe a DeFi craze again if SNX breaks $4,769 and targets $5,194 – 5,522 and $6,010 respectively.
If BTC continues its downtrend, BTC dominance increases rapidly, or SNX fails to hold above $4,417, bearish pricing will be highly likely. In such a scenario, a pullback to $3,943 could be recorded first. Afterwards, the levels of 3,515 – 2,971 – 2,614 and 2.20 dollars, respectively, can be followed as support points.
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