🎉 Happy Nowruz!
🔍 Let's dive into analyzing SNX coin in the weekly timeframe.
⏳ Currently, on the weekly chart, we're witnessing the breakout of a 600-day range. The fate of this week's candle will become clear within the next 12 hours.
🎯 Should this candle maintain its current trajectory, it might be prudent to consider purchasing this coin for a mid-term portfolio, with targets set at 6.451 and 9.342, respectively.
🛑 However, it's strongly advised not to proceed without implementing a stop-loss strategy. A more aggressive stop-loss could be placed just below the weekly candle, while a more conservative approach would suggest setting it within the support range around 3.082.
📈 Our confidence in buying and entering this coin is bolstered by the SMA 7, indicating that the price has surpassed the average of the past 7 weeks. Additionally, after encountering resistance and retracing to 3.082, there's been a decrease in volume, though it has picked up again upon approaching the upper boundary of the range.
📊 It's also recommended to keep a close watch on the chart of this coin paired with Bitcoin, as a promising candle pattern seems to be forming.
💰 Additionally, I recommend researching the website and project behind this coin before making a purchase. This way, you can ensure that you're fully informed and confident in holding it for the long term.
💼 Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🔍 Let's dive into analyzing SNX coin in the weekly timeframe.
⏳ Currently, on the weekly chart, we're witnessing the breakout of a 600-day range. The fate of this week's candle will become clear within the next 12 hours.
🎯 Should this candle maintain its current trajectory, it might be prudent to consider purchasing this coin for a mid-term portfolio, with targets set at 6.451 and 9.342, respectively.
🛑 However, it's strongly advised not to proceed without implementing a stop-loss strategy. A more aggressive stop-loss could be placed just below the weekly candle, while a more conservative approach would suggest setting it within the support range around 3.082.
📈 Our confidence in buying and entering this coin is bolstered by the SMA 7, indicating that the price has surpassed the average of the past 7 weeks. Additionally, after encountering resistance and retracing to 3.082, there's been a decrease in volume, though it has picked up again upon approaching the upper boundary of the range.
📊 It's also recommended to keep a close watch on the chart of this coin paired with Bitcoin, as a promising candle pattern seems to be forming.
💰 Additionally, I recommend researching the website and project behind this coin before making a purchase. This way, you can ensure that you're fully informed and confident in holding it for the long term.
💼 Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
