Synthetix (SNXUSDT) Ready 4 Long-Term Growth

10 Nov

Hello my fellow traders,

For SNXUSDT (Synthetix), the All-Time Low was hit in August 2024. After this low, we have three months of accumulation and a bullish breakout is starting to develop now. What makes this breakout different to past instances is the fact that it is supported by rising volume and Bitcoin hitting a new All-Time High. Many Altcoins are also breaking out right now with two and three digits green. What one does, the rest follows.

This is all good news. Notice how SNXUSDT is trading really low, specially when compared to many other Altcoins. This is good. Low means low risk on a drop and huge potential for growth on a rise. Catching the bottom means that the possibility exist to enjoy the entire bullish cycle on this pair. We are looking at bottom prices.

The purple line on the chart is the previous ATL, December 2022. Seeing SNXUSDT moving above this line makes this pair ultra-bullish.

The targets on the chart are conservative targets. These are good targets but below the ATH which sits at $28. Knowing what is coming for Cryptocurrency in 2025 and beyond, massive growth, we can expect a new ATH to hit here and all across. Patience is key. We buy and hold.

While things are about to become really exciting, it will still take months and months to enjoy massive growth. At this point what is important is to buy hold and develop a plan. How to maximize profits on the way up? When to sell and by how much?

When one pair is sold, a new one is bought.
When one pair rises, we sell and look for the ones that are still trading low.
We keep on repeating this over and over until the bull-market runs its course. We can also diversify or we can hold long-term.

There are many ways to approach the market, what you choose depends on you; your trading style, your capital, your goals, your risk tolerance and so on.

We have leveraged trading as well as margin and spot. It is always good to diversify. Only a small portion with leverage because of the higher risk. The bigger portion should be spot, that's the sure way to win.

No margin, no leverage, no risk.

Thanks a lot for your support.

I'll you see on the next one.

We are here long-term.

Thank you for reading.

Namaste.