Main notes
- Synthetix (SNX) increased by 7 % in the past day, reaching the highest daily level of $ 0.6851.
- SNX formed a falling spoiler style on the daily chart, indicating the outbreak of $ 1.82.
- In general, SNX decreased more than 21 % last week after Depeg of Susd Stablecoin.
SYNTTICIX’s original code price
SNX
0.66 dollars
24 hours fluctuation:
0.9 %
The maximum market:
$ 223.81 m
Folder. 24h:
$ 29.91 m
It saw a significant increase of 7 % in the past 24 hours, reaching the highest daily level of $ 0.6851. This upscale movement was accompanied by approximately 40 % in the trading volume, indicating a strong purchase interest.
However, despite this last gathering, SNX still decreased by approximately 21 % During the past thirty daysIt reflects the uncertainty surrounding the stablecoin protocol, Susd.
Technical analysis indicates a possible recovery
SNX formed a falling spoil style. If it is decisively broken over the upper direction line of the sorry enough, it may indicate a bullish reflection. The potential bullish goal of this style is in the vicinity of $ 1.82.
On the other hand, the MACD MACD (Blue) line is currently at the bottom of the signal line (Orange), which indicates the declining momentum. However, the graph shows some lighter red tapes, indicating that the pressure pressure may decrease.
The potential ups of the MACD line above the signal line will turn into a momentum and can support more upscale movement.
SNX price scheme | Source: TradingView
Moreover, the application of decline levels in Fibonacci from the highest level is about $ 0.86 to the current minimum, revealing about $ 0.55 for the main resistance levels.
The last 7 % increase has witnessed the SNX test with a tradition of 0.236 fibonacci about $ 0.67. If this level can be broken decisively and complex, then the following potential resistance goals are 0.382 about $ 0.73 and 0.5 Fibonacci level about $ 0.80.
However, Depeg of Susd and the uncertainty surrounding its decision can serve as an important opposite wind for SNX. Failure to address Stablecoin issues may renew the pressure pressure on SNX.
Depeg of Susd and Synthetix Ultimatum
SNX price fluctuation coincides with SUS’s continuous Depeg, which is currently trading at $ 0.7684, by 2.2 % in the last day and much less than the intended amount, Coinmarketcap data appears.
The process of repairing a recent SIP 420 protocol has been inadvertently cards stabilizing Stablecoin by removing the main arbitration mechanism.
Leave the absence of the PEG Sus Sus SUSD vulnerable to continuous sale pressure, with thin liquidity and concentrated mechanical market makers (AMM) exacerbation of price fluctuations, as noted by OKTO Minal Thukral.
Susd, the main stablecoin, faces the main and long and dangerous tray.
What causes this, and is this just a bad patch or the beginning of a greater collapse?
Quick collapse:
Susd is stable Algo with the support of Staped Snx.
After SIP 420, mining form … pic.twitter.com/nonclhahex– Minal Thukral (World_Thukral) April 18, 2025
In an attempt to address Susd Depeg, the founder of Synthetix Kain Warwick took a fixed position, urged SNX Stakers to actively participate in the newly launched Staking mechanism.
Update on Susd Depeg. We have implemented the Sud Stoke mechanism, but it is very manual until the user interface returns within a few days. Here I had a hot dicecord though.
– Kain.depeg (kaiynne) April 21, 2025
The SUSD 420, which was presented on April 18th, stimulates Stakers to lock Sus for a year for a share of 5 million SNX icons over 12 months.
Susd 420 sets are launched with bonuses starting at 36 hours
SNX Stakers in the 420 SUD Class SUD set for 5M SNX stake for 12 months – or 13,698.6 SNX daily
(1/5) pic.twitter.com/xy5quthk9
– Synthetix
(Synthetix_IO) April 18, 2025
Warwick explained that if a sufficient post is not observed as soon as the user interface occurs, he is ready to practice the “stick” on Stakers within the SusD 420 group to ensure the success of the mechanism.
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Slip: Coinspeaker is committed to providing unbiased and transparent reports. This article aims to provide accurate and timely information, but it should not be considered financial or investment advice. Since market conditions can change quickly, we encourage you to check your information and consult with a professional before making any decisions based on this content.
Part, an encrypted journalist with more than 5 years of experience in this industry, with the main media in the world of encryption and financing, gathered experience and experience in space after survival in the bear markets and bull over the years. Part is also the author of the book 4 books published self.
The post SNX Price Soars 7% as Synthetix Founder Talks Tough on sUSD Depeg Fix first appeared on Investorempires.com.
