Is It Too Late to Buy Synthetix Network? SNX Price Soars 14% as Surprising New Meme Coin Approaches $2 Million – Next Pepe Coin?

Crypto News
Crypto News

20 Nov 2023 3:32 PM

Leading derivatives liquidity protocol Synthetix Network has broken out with SNX price soaring +14% following the announcement of an upcoming Perps V3...

  • Synthetix Network's SNX price has soared +14% following the announcement of an upcoming Perps V3 launch on Coinbase's BASE blockchain.
  • The partnership with off-chain oracle Pyth network is also in the works.
  • Perp V3 will bring innovations such as cross margins, expanded multi-collateral trading, account-based access, and liquidation upgrades.
  • The news has led to a bullish market sentiment and a projected target price of $4.20.
  • SNX is currently trading at $3.52 with a 24-hour change of +2.74%.
  • The price has climbed +105% over the past month and is currently in a minor localized retracement after resistance at the upper trendline.
  • Moving averages indicate bullish momentum, with a golden cross signal emerging on November 5.
  • Key indicators show an overheated RSI but a bullish MACD.
  • The risk: reward ratio suggests a potential retracement to the middle of the trading channel.

The sentiment of the article is mostly positive, highlighting the positive developments and potential for Synthetix Network and SNX price.

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You May Ask

What caused the +14% increase in SNX price?What innovations will Perps V3 bring?What are the current trading levels and trends for SNX?What are the key indicators suggesting about SNX price movement?What is the risk: reward ratio for Synthetix Network?Please note that the input provided is truncated, and the analysis is based on the available information.

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