However, SNX would need the support of the broader cryptocurrency market to rally past the $4 psychological level in the short term. If the bulls remain in control, the coin could test the previous resistance level at $3.5 before the end of the day. The 14-day relative strength index of 61 shows that SNX could enter the overbought region if the positive momentum is maintained.Īt press time, SNX is trading at $3.21 per coin. The MACD line is above the neutral zone, indicating bullish momentum.

The SNX/USD 4-hour chart is bullish as Synthetic has added more than 20% to its value in the last 24 hours. Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement Synthetix’s mission to become the liquidity backbone for on-chain derivatives. Synthetix DAO and Jump Crypto are excited to announce a renewed partnership. The rally can be attributed to Synthetix announcing that it has renewed its partnership with Jump Crypto.Īccording to the Synthetix team, Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement its mission to become the liquidity backbone for on-chain derivatives. SNX, the native token of the Synthetix ecosystem, is up by more than 15% in the last 24 hours, making it one of the best performers amongst the top 100 cryptocurrencies by market cap.

Meanwhile, ETH is also up by more than 6% in the last 24 hours and currently trades above $1,550 per coin. The total market cap has surged past the $1 trillion mark following the rallies by leading coins and tokens over the past seven days.īitcoin slightly retraced below $23k on Thursday but is up by nearly 1% and is trading above $23k at the time of this report. It has been a positive week for the broader cryptocurrency market. The cryptocurrency market has had a net positive week as the prices of most coins and tokens are in the green zone.

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