SNX/USDT Technical Analysis: Bullish Long-Term Outlook with 200%

19 apr. 2023SNX/USDT Technical Analysis: Bullish Long-Term Outlook with 200% Upside Potential


The SNX/USDT pair has confirmed a breakout in the high time frame (HTF), indicating a bullish outlook for the long term. As of writing, the price is trading around 3, with the breakout level at $2.70 and a retest level at $2.25. This technical analysis aims to provide insights into potential price movements and actionable trading strategies based on the chart.

Technical Analysis
The SNX/USDT chart suggests an upward move is likely to continue before experiencing some retracement. The breakout level has already been confirmed, and the price has retraced to the retest level, indicating a strong support zone. The long-term trendline has also been broken, further supporting a bullish outlook.

Targets and Stop Loss
Based on the chart, the potential targets for the SNX/USDT pair are $3.40, $4.50, 6, and $7.30. However, it is important to note that a strict risk management strategy must be in place, with a stop loss set below $2.50 to mitigate potential losses.

Takeaways
The SNX/USDT pair has confirmed a breakout in the HTF, indicating a bullish outlook for the long term. The chart suggests an upward move is likely to continue before experiencing some retracement, with potential targets at $3.40, $4.50, 6, and $7.30. A strict risk management strategy must be in place, with a stop loss set below $2.50 to mitigate potential losses.

Conclusion
In conclusion, the SNX/USDT pair presents a bullish long-term outlook, with a potential 200% upside from the breakout level. However, it is important to note that this is not financial advice, and investors must conduct their own research before investing in any coins.

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