After months of compression, Synthetix (SNX) just delivered a breakout candle of unusual size. Price ripped from $0.60 lows to a $1.15 tag in a matter of sessions, shifting sentiment from dormancy to acceleration.
The backdrop:
• HTF resistance sits overhead at $1.20–1.35 — the last breakdown area.
• A reclaim here on volume projects $1.80–2.00 as the expansion target.
• Failure to sustain $0.95–1.00 retests risks dragging price back into $0.70–0.75.
Momentum reads:
• Open interest ballooned +30% in two days, but funding remains neutral. This isn’t yet the frothy late-stage push.
• Spot CVD prints positive — confirming that the bid isn’t just leveraged fuel, but real inflow.
• Short liquidations have been cleared into $1.15; fresh long liquidity now builds below $0.95.
Market path:
• Bullish: Pullback into $1.00–1.05 POC cluster holds → $1.20–1.35 retest, with room toward $1.80.
• Bearish: Rejection at $1.20–1.22 sends price back to $1.05 or even the inefficiency gap at $0.90.
Scalp Playbook:
🟢 Long setup: $1.00–1.05 entry, stop $0.88, targets $1.20 → $1.35 → $1.80. (~3.5:1 RR)
🔴 Short hedge: $1.18–1.22 entry, stop $1.30, targets $1.05 → $0.90. (~2.5:1 RR)
Bottom line:
SNX is no longer dormant — the expansion is real. Whether it becomes a sustainable cycle or burns out at $1.20 will depend on how the next retest resolves.
⚔️ Candle Craft | Signal. Structure. Execution.
The backdrop:
• HTF resistance sits overhead at $1.20–1.35 — the last breakdown area.
• A reclaim here on volume projects $1.80–2.00 as the expansion target.
• Failure to sustain $0.95–1.00 retests risks dragging price back into $0.70–0.75.
Momentum reads:
• Open interest ballooned +30% in two days, but funding remains neutral. This isn’t yet the frothy late-stage push.
• Spot CVD prints positive — confirming that the bid isn’t just leveraged fuel, but real inflow.
• Short liquidations have been cleared into $1.15; fresh long liquidity now builds below $0.95.
Market path:
• Bullish: Pullback into $1.00–1.05 POC cluster holds → $1.20–1.35 retest, with room toward $1.80.
• Bearish: Rejection at $1.20–1.22 sends price back to $1.05 or even the inefficiency gap at $0.90.
Scalp Playbook:
🟢 Long setup: $1.00–1.05 entry, stop $0.88, targets $1.20 → $1.35 → $1.80. (~3.5:1 RR)
🔴 Short hedge: $1.18–1.22 entry, stop $1.30, targets $1.05 → $0.90. (~2.5:1 RR)
Bottom line:
SNX is no longer dormant — the expansion is real. Whether it becomes a sustainable cycle or burns out at $1.20 will depend on how the next retest resolves.
⚔️ Candle Craft | Signal. Structure. Execution.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.