The cryptocurrency market is in consolidation but SNX and SUSHI are flying the bullish flag high. Synthetix is poised for a 60% upswing above the ascending triangle pattern. The cryptocurrency market is awfully quiet since the week started. The weekend session saw some considerable movement, amid the push by the bulls to recover from the
Synthetix declines on hiatus amid low volatility and volume. Recovery is likely to hit a snag at the 21-day SMA, which could send SNX back to the drawing board. The decentralized finance (DeFi) craze appears to have hit pause. It seems this the time tokens in the sector have to prove their worth to investors.
Synthetix price bounces off support at $3.40 in readiness for a breakout to $5.00. SNX/USD is drawing closer to the resistance at the 50EMA, likely to delay the bullish scenario. Synthetix Network Token price fell in tandem with other decentralized finance (DeFi) tokens. The lending, borrowing, and liquidity ecosystem has been dealt a heavy blow