SNX price prediction 2024-2030: Is SNX a good investment?

Key takeaways

• The average SNX price prediction for 2024 is $3.53.
• In 2025, it will range between $4.91 and $5.83, with an average price of $5.09.
• In 2030, it will range between $31.41 and $37.72, with an average price of $32.39.

SNX is the native token for the Synthetix Network and is used for governance. It is listed on top exchanges like Binance, Uniswap, Coinbase, OKX, and Bybit. Synthetic is a decentralized protocol that allows you to create and transact synthetic tokens on the Ethereum blockchain.

Is SNX a good investment? Will it go up? Where will it be in five years? Let’s get into the SNX price prediction and technical analysis.

Also Read: How to Stake SNX

Overview

Cryptocurrency	Synthetix
Abbreviation	SNX
Current Price	$2.58
Market Cap	$714,268,107
Trading Volume	$13,421,995
Circulating Supply	327,769,196
All-time High	$28.77, on Feb 14, 2021
All-time Low	$0.03258, on Jan 5,2019
24-hour High	$2.66
24-hour Low	$2.52

SNX price prediction: Technical analysis

Metric	Value
Volatility (30-day Variation)	9.58%
50-day SMA	$ 2.69
200-day SMA	$ 3.50
Sentiment	Bearish
Fear & Greed Index	71 (Greed)
Green Days	15/30 (50%)

Synthetix price analysis: SNX value elevates up to a swift $2.182 high

TL;DR

• Synthetix price analysis confirms an uptrend.
• The coin value has spiked up to $2.182.
• Support is present at the $2.003 end.

The Synthetix price analysis for June 16, 2024, depicts signs of an increasing trend. Although the bears remained on the dominant side in the past few weeks, the bulls have secured the lead since yesterday. The cryptocurrency value has achieved sufficient recovery because of the latest bullish comeback. The buying activity seems to be intensifying quickly over the past 24 hours. Therefore, the cryptocurrency value has hiked up to $2.182 in the past 24 hours. A further rise in bullish activity can be anticipated soon pertaining to the buying pressure.

SNX/USD 1-day Chart: Cryptocurrency launches above the $2.182 hurdle

The daily Synthetix price analysis favors cryptocurrency buyers for the day. The past few weeks have proved highly detrimental to the cryptocurrency progression. An intense bearish wave enveloped the market, with few instances of bullish recovery. However, the bulls have gained momentum since yesterday. In the past 24 hours, a further aggravation in the upward swing was observed as well. The overall value of the SNX/USD pair has spiked up to $2.182 during the day. The moving average (MA) indicator displays a descending curve on the one-day price chart. That is because of the continual bearish pressure observed in the last two weeks. The overall value of the indicator has sunk to $2.276 following the bearish cloud.

The volatility is on the declining side as the area between the Bollinger bands is receding. The declining volatility is a clear indicator of an upcoming uptrend. Whereas, the upper boundary of the Bollinger bands indicator has switched to $3.099, which marks strong resistance for the cryptocurrency. The lower boundary of the Bollinger bands indicator has moved to $2.003, hinting at the support levels. Moving on, the Relative Strength Index (RSI) indicator confirms the recent shifts in price movements. Its overall value has climbed to index 35.03 as a result of the latest upturn. Its curve is slightly bullish, thereby confirming the bullish changes in market events.

SNX/USD 4-hour Chart: Cryptocurrency crumbles to $2.182 after a downturn

The hourly Synthetix price analysis depicts a bearish scenario regarding the current market events. Although a clear bullish strike was observed in the earlier hours of the day, currently the bears are on the lead. A sufficient rise in bearish activity has been observed over the span of the past four hours. The overall sentiment of the market remained bearish, considering the intensifying bearish momentum. This has resulted in a clear decline in the coin value as it has receded below the $2.182 marker. If the bearish momentum aggravates further, the coin value can experience further losses in the coming hours. The moving average indicator confirms the uptrend since yesterday. Its overall value has improved up to $2.183 and is now above the overall coin value. The upward curve of the indicator demonstrates the bullish sentiment over the past two days.

The area between the upper and lower extremes of the Bollinger bands indicator seems to be on the decreasing side. The decreasing volatility signals an upcoming bullish strike. Moreover, the upper end of the Bollinger bands indicator has moved to $2.275. These changes mark high resistance as they are brought about by the declining volatility. If we discuss the lower Bollinger band, then it is now occupying a $2.111 position, which is stable support for now. The RSI indicator displays a bearish graph as a result of the recent downturn. Its overall value has decreased to $43.61 because of the growing selling momentum in the past few hours.

SNX technical indicators

Daily simple moving averages

Period	Value ($)	Action
SMA 3	2.47	SELL
SMA 5	2.41	SELL
SMA 10	2.43	SELL
SMA 21	2.61	SELL
SMA 50	2.69	SELL
SMA 100	3.32	SELL
SMA 200	3.50	SELL

Daily exponential moving averages

Period	Value ($)	Action
EMA 3	2.61	SELL
EMA 5	2.71	SELL
EMA 10	2.79	SELL
EMA 21	2.81	SELL
EMA 50	2.96	SELL
EMA 100	3.20	SELL
EMA 200	3.25	SELL

What can we expect from SNX price analysis next?

The daily and hourly Synthetix price analysis supports the cryptocurrency buyers for now. A strong upswing has been observed since yesterday because of the intensifying bullish activity. The overall value of the SNX/USD pair has recovered up to $2.182 as a result of the turnover in the past 24 hours. On the opposite side, the four-hour price analysis gives out a relatively bearish prediction regarding the hourly price movements.

Is SNX a good investment?

The Synthetix rebranding in 2018 rejuvenated the ecosystem, which has grown continually with multiple listed synths. Despite concerns over the stability of its stablecoins, SNX, the native token is set to mark new records, as we shall explore in Cryptopolitan’s SNX price predictions from 2024 to 2030. It is expected that SNX will reach $44 by 2030.

Recent news/ updates

• Synthetix layer V3 is live on the base network, but only the Kwenta and Toros networks have integrated the V3 layer. Vyberdex, Infinix, Ethena, and some other networks are also going live and will bring their communities on board.
• Synthetix distributed its Epoch 2 rewards for Synthetix Preps traders on the Base network. Synthetic Preps traders have been given fee rebates. Epoch 3 is also underway, and traders can receive up to 90% rabate on their trading fees.

Epoch 2 rewards have been distributed for Synthetix Perps traders on @base.

Synthetix Perps traders between 5/29 and 6/5 have received their trading fee rebates.

Epoch 3 is already underway. Trade Synthetix Perps on Base to receive rebates equal to 90% of trading fees.… pic.twitter.com/hD48hphu2k

— Synthetix ⚔️ (@synthetix_io) June 7, 2024

SNX price prediction June 2024

SNX will break out higher after consolidating. A break above the 78.60% Fibonacci will result in a mini bull run with the next target at $3.03. It will average at $2.70 and trade at a minimum price of $2.0.

Month	Potential Low ($)	Potential Average ($)	Potential High ($)
SNX price prediction June 2024	$2.30	$2.70	$3.03

SNX price prediction 2024

The price of SNX is predicted to reach a minimum value of $3.73 by Q4 of 2024. Traders can anticipate a maximum value of $4.38 and an average trading price of $3.88.

Year	Potential Low ($)	Potential Average ($)	Potential High ($)
2024	$3.73	$3.88	$4.38

SNX price prediction 2025 – 2030

Year	Potential Low ($)	Potential Average ($)	Potential High ($)
2025	5.23	5.42	6.57
2026	7.76	8.03	9.22
2027	11.46	11.78	13.42
2028	17.21	17.80	19.93
2029	24.97	25.86	30.08
2030	38.41	39.44	44.36

Synthetix price prediction 2025

The Synthetix price forecast for 2025 is a high of $6.57. The minimum price for the year will be $5.23, and the average will be $5.42.

Synthetix price prediction 2026

The year 2026 will experience more bullish momentum. According to the Synthetix price prediction, it will range between $7.76 and $9.22, with an average trading price of $8.03.

SNX price prediction 2027

The SNX price prediction climbs even higher into 2027. According to the projections, the price of SNX will range between $11.46 and $13.42, with an average of $11.78.

SNX price prediction 2028

According to our SNX price prediction for 2028, we expect a maximum price of $19.93, a minimum price of $17.21, and an average price of $17.80.

SNX price prediction 2029

According to the SNX price prediction 2029, SNX will reach a maximum and minimum price of $30.08 and $24.97, respectively, with a year-round average of $25.86.

SNX price prediction 2030

The Synthetix SNX price prediction for 2030 indicates a price range of $38.41 and $44.36 and an average price of $39.44. This prediction also hinges on the global recognition and adoption of blockchain technology.

Synthetix market price prediction: Analysts SNX price forecast

Firm	2024	2025
Changelly	$4.08	$5.95
DigitalCoinPrice	$5.44	$6.44
CryptoPredictions	$4.37	$4.86

Cryptopolitan’s Synthetix (SNX) price prediction

Our analysis shows that SNX has been highly volatile since its historical listing price. It remains range-bound at current levels, with predictions indicating it will break out higher. SNX will achieve a high of $4.38 in the second half of 2024. In 2025, it will range between $5.23 and $6.57, with an average of $5.42. Note the predictions are not investment advice. Seek independent professional consultation or do your own research.

Synthetix historic price sentiment

• Kain Warwick launched Synthetix in September 2017 under Havven (HAV). 
• The HAV Airdrop Campaign ran between 4 and 14 February 2018 and offered two million tokens for around $1 million.
• On November 30, 2018, Synthetic announced its rebranding from Havven. This included renaming its native token, HAV (Havven token), to SNX. The contract address did not change.
• It registered its lowest price at $0.03258 on January 5, 2019.
• Different from most mega-altcoins, SNX did not rally after launch; it consistently traded below $0.5 until the last quarter of 2019.
• In 2020, it made a mega rally to $7.3. In the 2021 bull cycle, it shot higher, and on February 14, it registered its all-time high at $28.77.
• It reversed to $5 in July before pumping again to $15 in September.
• In the 2022 crypto winter, SNX shed most of its value as it retreated to the $2 mark by the end of the year.
• In 2023, it consistently traded between $1.5 and $3 until the last quarter, when it had its break. 
• In March 2024, SNX reached a high of $5; in June, SNX is trading within the $2.18 – $2.44 range.