SNX price prediction 2024-2030: Is SNX a good investment?
Key takeaways:
- The average SNX price prediction for 2024 is $2.04.
- In 2027, it will range between $5.31 and $6.23, with an average price of $5.50.
- In 2030, it will range between $17.04 and $21.20, with an average price of $17.53.
SNX is the native token for the Synthetix Network and is used for governance. It is listed on top exchanges like Binance, Uniswap, Coinbase, OKX, and Bybit. Synthetic is a decentralized protocol that allows you to create and transact synthetic tokens on the Ethereum blockchain.
Is SNX a good investment? Will it go up? Where will it be in five years? Let’s get into the SNX price prediction and technical analysis.
Overview
| Cryptocurrency | Synthetix |
| Abbreviation | SNX |
| Current Price | $1.324 |
| Market Cap | $434,329,789 |
| Trading Volume | $18,279,897 |
| Circulating Supply | 327,769,196 SNX |
| All-time High | $28.77 (Feb 14, 2021) |
| All-time Low | $0.03258 (Jan 5,2019) |
| 24-hour High | $1.42 |
| 24-hour Low | $1.31 |
SNX price prediction: Technical analysis
| Metric | Value |
| Volatility (30-day Variation) | 10.51% |
| 50-day SMA | $ 1.480737 |
| 200-day SMA | $ 2.48 |
| Sentiment | Neutral |
| Fear & Greed Index | 50 (Neutral) |
| Green Days | 18/30 (60%) |
Synthetix price analysis: Downward swing results in decline below $1.324
TL;DR Breakdown
- Synthetix price analysis confirmed a downward trend at $1.324.
- Cryptocurrency has lost up to 5.98% of value during the day.
- Synthetix prices are seeking resistance around the $1.262 border.
On October 3, 2024, Synthetix price analysis revealed a downward trend for the cryptocurrency. Coin value has sunk to $1.324 low in the past 24-hours. The Bears have been securing consecutive victories since the past week. This gives a negative signal to the investors regarding future recovery, as the cryptocurrency has devalued up to 5.98% today.
SNX/USD 1-day chart: SNX devalues to $1.324 amidst descent
The one-day price chart of Synthetix coin confirms a declining trend for the cryptocurrency. Coin value has deteriorated to $1.324 in the past 24-hours. Side by side, if we talk about the overall market sentiment, then it remains on the negative side as well. Considering the rapid bearish swing, the cryptocurrency value has receded below its moving average.
The gap between the Bollinger bands determines market volatility. Currently, this gap is widening, leading to rising volatility. Moreover, the upper end of the Bollinger bands indicator, acting as the resistance band, has shifted to $1.797. Whereas, the lower Bollinger bands indicator, serving as the support, has moved to $1.262.
The Relative Strength Index (RSI) indicator is hovering close to the oversold region. Its value is 38.17, and still moving downward; this signifies a bearish market. As the RSI value continues to decline, the cryptocurrency is facing bearish resistance. The past week proved highly detrimental to the cryptocurrency’s progression. Today, the selling activity remained on the intense side once again.
SNX/USD 4-hour chart analysis
The four-hour price analysis of Synthetix coin confirms a declining trend for the currency. Coin value has dropped down to $1.323 in the past four hours. The bears have been leading the market continuously since the early hours of the day. As the volatility is increasing, there is a rising chance of reversal in the market events.
The Bollinger bands are expanding, therefore referring to a rising volatility. This rising volatility signifies a higher market unpredictability for the currency. Moreover, the upper end of the Bollinger bands indicator, acting as resistance, has shifted to $1.689. Whereas, the lower end of the Bollinger bands indicator, serving as support, has moved to $1.247.
The RSI indicator has entered the oversold region. Its value has collapsed to 23.70 in the past four hours of the day. That is because the selling activities are intensifying rapidly, leading to extreme losses for the cryptocurrency. The trading environment at present is quite unbalanced and unsuitable for investment. If the selling pressure continues to rise, further loss in the RSI value is susceptible.
SNX technical indicators: Levels and action
Daily simple moving averages
| Period | Value ($) | Action |
| SMA 3 | 1.582544 | BUY |
| SMA 5 | 1.582518 | BUY |
| SMA 10 | 1.609883 | BUY |
| SMA 21 | 1.564746 | BUY |
| SMA 50 | 1.480737 | BUY |
| SMA 100 | 1.60414 | BUY |
| SMA 200 | 2.48 | SELL |
Daily exponential moving averages
| Period | Value ($) | Action |
| EMA 3 | 1.537755 | BUY |
| EMA 5 | 1.49647 | BUY |
| EMA 10 | 1.450733 | BUY |
| EMA 21 | 1.452734 | BUY |
| EMA 50 | 1.615163 | BUY |
| EMA 100 | 1.963061 | SELL |
| EMA 200 | 2.40 | SELL |
What can we expect from SNX price analysis next?
Synthetix price analysis for the day gives out a highly bearish scenario regarding the ongoing market events. Coin value has dropped down to $1.324 in the past 24-hours, leading to a sufficient decline. Moreover, the market sentiment remains towards the negative side as well, as the bears remained on the lead in the past week. If observed overall, the cryptocurrency has lost up to 5.98% of its value today. Technical indicators are confirming a negative verdict, whereas the price charts are giving out a bearish overview as well.
Is SNX a good investment?
The Synthetix rebranding in 2018 rejuvenated the ecosystem, which has grown continually with multiple listed synths. Despite concerns over the stability of its stablecoins, SNX, the native token, is set to mark new records, as we shall explore in Cryptopolitan’s SNX price predictions from 2024 to 2030. It is expected that SNX will reach $44 by 2030.
Why is SNX down?
The cryptocurrency market is under bearish pressure, and SNX faces the same sentiment. However, it is still encouraging that SNX is one of the best performers and has moved above its average since August 13, 2024. The SNX price has decreased to $1.324; moreover, it has lost up to 5.98% of its value since the last 24 hours
Will SNX reach $5?
The current price action does not justify predicting a $5 target. However, in the cryptocurrency market, things change rapidly, and if RSI returns from the oversold zone, a recovery can be initiated. It can be expected that SNX will reach $5 by 2026.
Will SNX reach $10?
According to Cryptopolitan’s price prediction, SNX will reach the $10 level by the fourth quarter of 2026. The last time SNX was seen at the $10 level was November 2021.
Will SNX reach $100?
According to Cryptopolitan’s price prediction, SNX may not reach this level in the next ten years. Considering the current market cap of the token, it seems like $100 too far-fetched.
Does SNX have a good long-term Future?
SNX is nearing an oversold position, which means the token is undervalued compared to its actual worth, which makes it a perfect time for buyers to enter the market. Considering the low price and a good future evaluation of $23 by the end of 2030, the asset is worth buying.
Recent news/ updates on SNX
- A proposal to restructure and enhance Synthetix governance and provide the protocol with a defined 2025 vision was put forth in a referendum last week. A review of the Town Hall where this was discussed has been written by SNXweave.
SNX price prediction October 2024
SNX downfall is expected to slow down. Support is also expected to appear soon with the next target at $1.64. It will average at $1.41 and trade at a minimum price of $1.19.
| Month | Potential Low ($) | Potential Average ($) | Potential High ($) |
| October | $1.30 | $1.54 | 1.78 |
SNX price prediction 2024
The price of SNX is predicted to reach a minimum value of $1.82 by Q4 of 2024. Traders can anticipate a maximum value of $2.04 and an average trading price of $1.90.
| Year | Potential Low ($) | Potential Average ($) | Potential High ($) |
| 2024 | $1.82 | $1.90 | $2.04 |
SNX price prediction 2025 – 2030
| Year | Potential Low ($) | Potential Average ($) | Potential High ($) |
| 2025 | 2.51 | 2.61 | 3.16 |
| 2026 | 3.62 | 3.75 | 4.42 |
| 2027 | 5.31 | 5.50 | 6.23 |
| 2028 | 7.77 | 7.99 | 9.17 |
| 2029 | 11.99 | 12.31 | 13.99 |
| 2030 | 17.04 | 17.53 | 21.20 |
SNX price prediction 2025
The Synthetix price forecast for 2025 is a high of $3.16. The minimum price for the year will be $2.51, and the average will be $2.61.
SNX price prediction 2026
The year 2026 will experience more bullish momentum. According to the SNX price prediction, it will range between $3.62 and $4.42, with an average trading price of $3.75.
SNX price prediction 2027
The SNX price prediction climbs even higher into 2027. According to the projections, the price of SNX will range between $5.31 and $6.23, with an average of $5.50.
SNX price prediction 2028
According to our SNX price prediction for 2028, we expect a maximum price of $9.17, a minimum price of $7.77, and an average price of $7.99.
SNX price prediction 2029
According to the SNX price prediction 2029, SNX will reach a maximum and minimum price of $13.99 and $11.99, respectively, with a year-round average of $12.31.
SNX price prediction 2030
The Synthetix SNX price prediction for 2030 indicates a price range of $17.04 and $21.20 and an average price of $17.53. This prediction also hinges on the global recognition and adoption of blockchain technology.
Synthetix market price prediction: Analysts SNX price forecast
| Firm | 2024 | 2025 |
| Changelly | $4.08 | $5.95 |
| DigitalCoinPrice | $5.44 | $6.44 |
| CryptoPredictions | $4.37 | $4.86 |
Cryptopolitan’s Synthetix (SNX) price prediction
Our analysis shows that SNX has been highly volatile since its historical listing price. It remains range-bound at current levels, with predictions indicating it will break out higher. SNX will achieve a high of $1.64 by the end of 2024. SNX is expected to trade between $2.18 and $2.57 in 2025. In 2030, SNX will be priced between $13.47 to $16.37 with an average price of $13.95.
Synthetix historic price sentiment
- Kain Warwick launched Synthetix in September 2017 under Havven (HAV).
- The HAV Airdrop Campaign ran between 4 and 14 February 2018 and offered two million tokens for around $1 million.
- On November 30, 2018, Synthetic announced its rebranding from Havven. This included renaming its native token, HAV (Havven token), to SNX. The contract address did not change.
- It registered its lowest price at $0.03258 on January 5, 2019.
- Different from most mega-altcoins, SNX did not rally after launch; it consistently traded below $0.5 until the last quarter of 2019.
- In 2020, it made a mega rally to $7.3. In the 2021 bull cycle, it shot higher, and on February 14, it registered its all-time high at $28.77.
- It reversed to $5 in July before pumping again to $15 in September.
- In the 2022 crypto winter, SNX shed most of its value as it retreated to the $2 mark by the end of the year.
- In 2023, it consistently traded between $1.5 and $3 until the last quarter, when it had its break.
- In March 2024, SNX reached a high of $5; in July, SNX came down from $2.01 to $1.65 range.
- In August 2024, SNX token’s price dipped as low as $1.20, and September saw a maximum price of $1.71.
- In October 2024, SNX is trading near $1.61 range after correcting slightly.
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