The post Can Synthetix Price Continue to Show Gains Despite Volatility?  appeared on BitcoinEthereumNews.com.

Synthetix is a DEX and a platform for synthetic assets, which are tokens that track the value of real-world assets, such as currencies, stocks etc. Users can trade synths without holding the actual assets, using SNX tokens as collaterals.  SNX holders can also stake their tokens and earn fees and rewards from the network. It uses oracles to provide accurate price feeds for the synths, and has migrated to the optimistic Ethereum manniet to improve scalability and performance.    Source: CoinMarketCap Synthetix Price Technical Analysis The price analysis of Synthetix crypto showcases volatility over the daily chart with the price headed upwards forming jigger highs and higher lows and price hovers above the 50-day and 200-day EMAs, indicating strength. The price performance of the SNX crypto shows that the crypto has gained over 18.02% through the week and 67.85% in a month. Moreover, the price has a year-to-date gain of over 199.9%.  The volume analysis shows that SNX had a 24-hour trading volume of $116.62 Million with a drop of 31.21% as compared to yesterday. The live market cap of SNX is $1.308 Million and it ranks 53rd among all cryptos. The volume-to-market cap ratio is 9.22% indicating mild volatility in the market.  Synthetix Price Prediction 2023 Source: SNX/USD Chart by TradingView The most optimistic price prediction of the analysts expects the SNX token price to reach a high of $5.374, signifying an upside potential of 23.74% from the CMP. The minimum price that SNX crypto could drop is $3.319. Synthetix Price Prediction 2024 As per analysts, the most optimistic target that the SNX may achieve by 2024 is $9.4303, indicating an upside potential of 116.98% from the CMP. The average analyst price target is $7.211 by the end of 2024. However, the pessimistic ones pegged the target at $5.817.  Synthetix…

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Filed under: News - @ December 14, 2023 7:16 pm