Key takeaways:
- The average SNX price prediction for 2024 is $1.72.
- In 2027, it will range between $4.94 and $5.99, with an average price of $5.12.
- In 2030, it will range between $14.29 and $17.98, with an average price of $14.82.
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.
Overview
| Cryptocurrency | Synthetix |
| Abbreviation | SNX |
| Current Price | $1.58 |
| Market Cap | $514,313,407 |
| Trading Volume | $17,423,467 |
| 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 | $1.55 |
| 24-hour Low | $1.62 |
SNX price prediction: Technical analysis
| Metric | Value |
| Volatility (30-day Variation) | 7.45% |
| 50-day SMA | $ 1.866747 |
| 200-day SMA | $ 3.04 |
| Sentiment | Bearish |
| Fear & Greed Index | 34 (Fear) |
| Green Days | 13/30 (43%) |
Synthetix price analysis: SNX slightly corrects down to the $1.58 level
TL;DR
- Synthetix price analysis confirms a decreasing trend at $1.438.
- Coin value has decreased up to 1.39% from its previous close.
- SNX prices seek support at the $1.54 boundary.
On August 26, 2024, synthetix price analysis revealed a bearish trend. Crypto prices have been decreased after the coin met resistance at $1.64. It trades at $1.58 low following the downside for the second consecutive day. The cryptocurrency has shed up to 1.39% of its value in the last 24 hours.
SNX/USD 1-day Chart: Coin value lowers to $1.58 as bears continue to lead
The bears remained on the leading edge since yesterday, attracting further loss for the cryptocurrency. This decreasing movement of the coin value is suggestive of a bearish trend and therefore a negative market sentiment.
The gap between the upper and lower ends of the Bollinger bands indicator defines market volatility. As the gap continues to grow, this confirms increasing market volatility. Currently, the upper side of the Bollinger bands indicator is at $1.665, acting as the resistance band. On the opposite side, its lower side, serving as support, is now situated at $1.158.
The Relative Strength Index (RSI) indicator is in the neutral region. Its value is at index 55.46 and still moving downwards confirming a bearish trend. Moreover, the continual dip in the RSI value confirms a bearish market sentiment. The descending curve of the RSI indicator suggests that the selling pressure is higher as compared to the buying pressure.
SNX/USD 4-hour Chart: Synthetix looks for support at $1.58
The four-hour price analysis for Synthetix presents presence of support for the cryptocurrency. Coin value has stopped sinking at $1.58 amidst the potential arrival of support. Although the circumstances remained in favor of the sellers yesterday, bears today have secure their lead once again. Moreover, the stagmating price action in the past four hours signals a balanced trading environment.
The market volatility is on the decreasing end, which signals more market predictability for the currency. Moving ahead, the upper end of the Bollinger bands indicator is at $1.70, confirming the resistance threshold. Conversely, the lower end of the Bollinger bands indicator is present at $1.52, indicating the support levels.
The RSI indicator is present quite close to the center line of the neutral region at 51.65. This almost straight movement shows an unclear trend for the cryptocurrency on an hourly basis. If the buying activity intensifies further, the RSI value is expected to move upwards. Moreover, as the RSI value grows, this signals a changing market sentiment.
SNX technical indicators: Levels and action
Daily simple moving averages
| Period | Value ($) | Action |
| SMA 3 | 1.676987 | SELL |
| SMA 5 | 1.691999 | SELL |
| SMA 10 | 1.737552 | SELL |
| SMA 21 | 1.787235 | SELL |
| SMA 50 | 1.866747 | SELL |
| SMA 100 | 2.30 | SELL |
| SMA 200 | 3.04 | SELL |
Daily exponential moving averages
| Period | Value ($) | Action |
| EMA 3 | 1.755005 | SELL |
| EMA 5 | 1.755363 | SELL |
| EMA 10 | 1.768534 | SELL |
| EMA 21 | 1.797091 | SELL |
| EMA 50 | 1.969036 | SELL |
| EMA 100 | 2.32 | SELL |
| EMA 200 | 2.68 | SELL |
What can we expect from SNX price analysis next?
Synthetix price analysis confirms a downpward trend as observed over the past 24-hours. The coin value is currently at $1.58, after a slight decline during the day. Overall, the cryptocurrency has lost up to 1.39% of value. The overall market sentiment for the coin remains neutral as well. Technical indicators favor neither side of the market; however, the price charts continue to support the bears, at least for the moment.
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 up?
The cryptocurrency market is under bullish pressure, and SNX faces the same sentiment. It is encouraging that SNX is one of the best performers and has moved above its average since August 13, 2024. The SNX price has increased to $1.58, gaining 11.52% of its value over the past week.
Will SNX reach $5?
The current price action does not justify predicting a $5 target. However, in the cryptocurrency market, things change rapidly, 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?
According to Cryptopolitan’s price prediction, SNX will reach the $10 level by the fourth quarter of 2026. The last time SNX was seen at the $10 level was November 2021.
Will SNX reach $100?
According to Cryptopolitan’s price prediction, SNX may not reach this level in the next ten years. Considering the current market cap of the token, it seems like $100 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 actual 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
- A report from Blockworks Research notes that Synthetix Network is investing heavily in cross-chain vision and is working on deployments on ETH Mainnet and Superchain.
SNX price prediction August 2024
SNX downfall is expected to slow down. Support is also expected to appear soon with the next target at $2.04. It will average at $1.75 and trade at a minimum price of $1.19.
| Month | Potential Low ($) | Potential Average ($) | Potential High ($) |
| August | $1.19 | $1.75 | 2.04 |
SNX price prediction 2024
The price of SNX is predicted to reach a minimum value of $1.65 by Q4 of 2024. Traders can anticipate a maximum value of $1.87 and an average trading price of $1.72.
| Year | Potential Low ($) | Potential Average ($) | Potential High ($) |
| 2024 | $1.65 | $1.72 | $1.87 |
SNX price prediction 2025 – 2030
| Year | Potential Low ($) | Potential Average ($) | Potential High ($) |
| 2025 | 2.39 | 2.47 | 2.90 |
| 2026 | 3.43 | 3.52 | 4.21 |
| 2027 | 4.94 | 5.12 | 5.99 |
| 2028 | 7.09 | 7.30 | 8.65 |
| 2029 | 10.24 | 10.60 | 12.38 |
| 2030 | 14.29 | 14.82 | 17.98 |
Synthetix price prediction 2025
The Synthetix price forecast for 2025 is a high of $2.90. The minimum price for the year will be $2.39, and the average will be $2.47.
Synthetix price prediction 2026
The year 2026 will experience more bullish momentum. According to the Synthetix price prediction, it will range between $3.43 and $4.21, with an average trading price of $3.52.
SNX price prediction 2027
The SNX price prediction climbs even higher into 2027. According to the projections, the price of SNX will range between $4.94 and $5.99, with an average of $5.12.
SNX price prediction 2028
According to our SNX price prediction for 2028, we expect a maximum price of $8.65, a minimum price of $7.09, and an average price of $7.30.
SNX price prediction 2029
According to the SNX price prediction 2029, SNX will reach a maximum and minimum price of $16.52 and $12.38, respectively, with a year-round average of $10.60.
SNX price prediction 2030
The Synthetix SNX price prediction for 2030 indicates a price range of $14.29 and $17.98 and an average price of $14.82. 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 $1.87 by the end of 2024. SNX is expected to trade between $2.39 and $2.90 in 2025. In 2030, SNX will be priced between $14.29 to $17.98 with an average price of $14.82.
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 came down from $2.01 to $1.65 range.
- At the start of August 2024, SNX token’s price has decreased further and is trading in $1.4 range.
