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

Key takeaways:

• The average SNX price prediction for 2024 is $2.22.
• In 2027, it will range between $6.62 and $7.78, with an average price of $6.80.
• In 2030, it will range between $20.90 and $23.83, with an average price of $21.47.

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	$1.849
Market Cap	$610,258,184
Trading Volume	$30,695,793
Circulating Supply	327,769,196 SNX
All-time High	$28.77 (Feb 14, 2021)
All-time Low	$0.03258 (Jan 5,2019)
24-hour High	$1.95
24-hour Low	$1.82

SNX price prediction: Technical analysis

Metric	Value
Volatility (30-day Variation)	12.23%
50-day SMA	$ 2.45
200-day SMA	$ 3.37
Sentiment	Bearish
Fear & Greed Index	44 (Fear)
Green Days	13/30 (43%)

Synthetix price analysis: SNX value deteriorates to $1.849 after bearish retrieval

TL;DR

• Synthetix price analysis confirms a downtrend.
• The coin value has decreased to $1.849.
• Support is being provided at the $1.452 end.

The Synthetix price analysis for July 16, 2024, predicts a bearish trend for the cryptocurrency. The buyers have been ruling the market, as consecutive bullish victories were observed throughout the past week. However, the coin value depreciated to $1.849 because of intensifying bearish pressure. Considering the downturn during the day, selling activity has resumed once again.

SNX/USD 1-day Chart: Coin value crumbles to $1.849 following a downturn

The bears are leading the market for now, as per the daily Synthetix price analysis. The cryptocurrency has devalued to $1.849, considering the bearish comeback in the past 24 hours. The selling activity remained considerably higher than the buying activity, considering today’s bearish turn in coin value. If we discuss the moving average (MA) indicator, then it suggests a considerable rise in its overall value. The indicator’s value has ascended to $1.725 due to the constant bullish swing observed throughout the past week.

The volatility is decreasing, a relatively positive signal for the next few days. Meanwhile, the upper end of the Bollinger bands indicator has moved to $2.109, confirming the resistance threshold. The lower end of the Bollinger bands indicator now occupies the $1.452 extreme, suggesting stable support levels. The Relative Strength Index (RSI) indicator confirms the recent shifts in market events. Its value has thus dropped to  48.87 because of the decreasing price movement in the past 24 hours. 

SNX/USD 4-hour Chart: Synthetix seeks recovery above the $1.849 border

The cryptocurrency price analysis confirms a bullish turn in price over the past four hours of the day. The early hours of the day remained favorable towards the sellers, as a huge descent in coin value was recorded. The bulls are back on the leading end, considering the upturn in coin value over the past four hours. The cryptocurrency value has spiked up to $1.849 because of the latest upside. Moreover, the moving average indicator shows a bullish curve on the one-day price chart. The indicator’s value has increased to $1.886 because of the persistent uptrend observed over the past few days.

Volatility is declining, which is a bullish signal for the coming market events. The upper end of the Bollinger bands indicator has moved to $1.979, considering the decreasing shift in volatility. Whereas, the lower end of the Bollinger bands indicator has switched to $1.604, thus marking the availability of stable support. The RSI indicator confirms the bullish shift in market events today. Its overall value has improved to index 59.44 because of the turnover in the last four hours of the day.

SNX technical indicators: Levels and action

Daily simple moving averages

Period	Value ($)	Action
SMA 3	1.987389	SELL
SMA 5	1.976572	SELL
SMA 10	1.993527	SELL
SMA 21	2.06	SELL
SMA 50	2.45	SELL
SMA 100	2.91	SELL
SMA 200	3.37	SELL

Daily exponential moving averages

Period	Value ($)	Action
EMA 3	2.00	SELL
EMA 5	2.00	SELL
EMA 10	2.03	SELL
EMA 21	2.15	SELL
EMA 50	2.45	SELL
EMA 100	2.80	SELL
EMA 200	3.02	SELL

What can we expect from SNX price analysis next?

The Synthetix price prediction for the day confirms a downtrend for the cryptocurrency. The bears have resumed action because of the rising selling pressure during the day. In the past 24 hours, the SNX/USD value has depreciated to a $1.849 margin because of the bearish return. On the other side, the four-hour price analysis presents a relatively bullish scenario regarding the ongoing market events. In the past few hours, an increasing price movement has been noticed because of the upturn in coin value.

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.

Why is SNX down?

The cryptocurrency market is under bearish pressure, and SNX is also facing the same sentiment. The encouraging thing is that SNX is one of the most affected coins and has improved to its average level since February 2023. The SNX price has decreased to $1.849, losing 0.29% of its value in one day.

Will SNX Recover?

SNX is currently trading in its lower price range. The scenario does not look encouraging for the buyers, as the price is trending below the lower limit of the volatility indicator. However, recovery is possible if bulls can defend the support present at $1.63.

Will SNX reach $5?

The current price action does not justify a prediction of a $5 target. However, in the cryptocurrency market, things change at a rapid pace, and if RSI returns from the oversold zone, a recovery can be initiated. It can be expected that SNX will reach $5 by 2026.

Will SNX reach $10?

SNX is speculated to reach the $10 level not before the fourth quarter of 2026, according to Cryptopolitan’s price prediction. The last time SNX was seen at the $10 level was in November 2021.

Will SNX reach $100?

According to Cryptopolitan’s price prediction, SNX may not reach this level in the next 10 years. Considering the current market cap of the token, it seems like an idea too far-fetched.

Does SNX have a good long-term Future?

SNX is nearing an oversold position, which means the token is undervalued compared to its real worth, which makes it a perfect time for buyers to enter the market. Considering the low price and a good future evaluation of $23 by the end of 2030, the asset is worth buying.

Recent news/ updates on SNX

• Synthetix announced that its V3 is now live on Arbitrum. Users can deposit supported assets to mint Synthetix’s native stablecoin.

ICYMI: Synthetix V3 is live on @arbitrum!

LTIP rewards are now flowing to participants in the Synthetix ecosystem on Arbitrum. Here's what you need to know:

– Depositors: LTIP rewards are available for those who deposit supported assets.
– Stablecoin LPs: Liquidity providers… pic.twitter.com/jn0PYiXUnV

— Synthetix ⚔️ (@synthetix_io) July 2, 2024

• 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.

SNX price prediction July 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 $2.80. It will average at $2.44 and trade at a minimum price of $1.70.

Month	Potential Low ($)	Potential Average ($)	Potential High ($)
SNX price prediction June 2024	$1.70	$2.44	2.80

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	$2.12	$2.22	$2.48

SNX price prediction 2025 – 2030

Year	Potential Low ($)	Potential Average ($)	Potential High ($)
2025	2.99	3.10	3.66
2026	4.35	4.50	5.32
2027	6.62	6.80	7.78
2028	9.61	9.88	11.36
2029	13.72	14.21	16.52
2030	20.90	21.47	23.83

Synthetix price prediction 2025

The Synthetix price forecast for 2025 is a high of $3.66. The minimum price for the year will be $2.99, and the average will be $3.10.

Synthetix price prediction 2026

The year 2026 will experience more bullish momentum. According to the Synthetix price prediction, it will range between $4.35 and $5.32, with an average trading price of $4.50.

SNX price prediction 2027

The SNX price prediction climbs even higher into 2027. According to the projections, the price of SNX will range between $6.62 and $7.78, with an average of $6.80.

SNX price prediction 2028

According to our SNX price prediction for 2028, we expect a maximum price of $11.36, a minimum price of $9.61, and an average price of $9.88.

SNX price prediction 2029

According to the SNX price prediction 2029, SNX will reach a maximum and minimum price of $16.52 and $13.72, respectively, with a year-round average of $14.21.

SNX price prediction 2030

The Synthetix SNX price prediction for 2030 indicates a price range of $20.90 and $23.83 and an average price of $21.47. 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 $2.48 by the end of 2024. SNX is expected to trade between $2.99 and $3.66 in 2025. In 2030, SNX will be priced between $20 to $24 with an average price of $21.4.

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 July, SNX is trading within the $1.70 – $2.06 range.