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$SNX My Favorite Trading Coin

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Neal
@nealmcspadden
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https://www.tradingview.com/x/wkoaSD7f/

SNX-BTC is by far my favorite trading coin. This sucker moves, which is what you want in a trading coin.

It has a 500M market cap right now according to CMC: https://coinmarketcap.com/currencies/synthetix-network-token/

And I love the idea behind the project of bringing derivatives to DeFi. In fact, there will be a version of derivatives trading on hive-engine in the coming months.

The chart on tradingview only goes back to July, but the coin has been around for about 2 years and current levels are up 20x compared to some of those prior levels.

But again, it's a mover. I like to trade it with simple pivots and support/resistance bands. I've only been in the coin for about a month as you can see in the chart.

At this point, I think we see a pullback to the 37000-40000 sats range to form the next basis of support zone and then a push higher as the next wave of DeFi takes over.

Posted Using LeoFinance Beta