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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

CryptocurrencySynthetix
AbbreviationSNX
Current Price$1.652
Market Cap$539,786,210
Trading Volume$17,718,875
Circulating Supply327,769,196 SNX
All-time High$28.77 (Feb 14, 2021)
All-time Low$0.03258 (Jan 5,2019)
24-hour High$1.69
24-hour Low$1.63

SNX price prediction: Technical analysis

MetricValue
Volatility (30-day Variation)12.23%
50-day SMA$ 2.45
200-day SMA$ 3.37
SentimentBearish
Fear & Greed Index44 (Fear)
Green Days13/30 (43%)

Synthetix price analysis: SNX value depreciates to $1.652 following the downturn

TL;DR

  • SNX price analysis confirms a downtrend.
  • The coin value has dropped to $1.652.
  • Support is being provided at a low of $1.487.

The daily as well as the hourly Synthetix price analysis for July 10, 2024, is suggestive of an ongoing downtrend. Overall, the week proved favorable for the buyers as the bullish momentum remained considerably high. However, today the bears are attempting to make a secure return on the price chart. The coin value has dropped to $1.652 in the past 24 hours as the selling activity has resumed once again.

SNX/USD 1-day Chart: Coin value descends to $1.652 amidst recent losses

The daily Synthetix price analysis confirms a bearish scenario regarding the ongoing market events. In the past 24 hours, a noticeable rise in the selling pressure has been observed as the bears are now back on track. The coin value has stepped down to $1.652 once again amidst the growing bearish activity. Side by side, the Moving Average (MA) indicator confirms a decline in its overall value as well. Its value has descended to $1.680 because of the bearish drift in the preceding week. 

SNX/USD 1-day Chart. Source: TradingView

The volatility is on the increasing side, which is yet another negative signal for the coming days. The upper end of the Bollinger bands indicator has switched to $2.209, hinting at a strong resistance level. Whereas, the lower extreme of the Bollinger bands indicator has moved to $1.487, confirming the available support for the cryptocurrency. The Relative Strength Index (RSI) indicator confirms the recent changes in market trends. Its value has receded to index 36.04 amidst the growing bearish momentum during the day.

SNX/USD 4-hour Chart: SNX value deteriorates to $1.652 after a bearish strike

The hourly Synthetix price analysis confirms a downtrend for the cryptocurrency. The earlier hours of the day remained favorable for the buyers, but currently the circumstances are supportive for the sellers. The coin value has decreased to $1.652 because of the bearish rush during the past four hours of the day. However, the moving average value has improved up to $1.650, still below the overall price. The indicator shows a rise in its value because of the upward sweep in the past few days.

SNX/USD 4-hour Chart. Source: TradingView

The volatility is expanding as the Bollinger bands are diverging, yet another hint of an upcoming downside. If we discuss the Bollinger bands indicator, then its upper band has moved up to $1.695, thus marking the resistance threshold. Whereas, the lower extreme of the Bollinger bands indicator has shifted to $1.535 amidst the growing volatility. The RSI graph displays a steep bearish slope because of the latest downturn in coin value. Its value has sunk to 52.20, which is a quite neutral figure.

SNX technical indicators: Levels and action

Daily simple moving averages

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

Daily exponential moving averages

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

What can we expect from SNX price analysis next?

The daily and hourly Synthetix price analysis confirms a declining price movement for the cryptocurrency. The bears have secured a comeback in the past 24 hours, as a considerable decline in the coin value has been observed. Overall, the cryptocurrency has devalued below the $1.652 margin amidst the intensifying bearish swing. Side by side, the four-hour price analysis dictates a downtrend for the cryptocurrency as well.

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 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 increased to $1.652, gaining 0.94% 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.
  • 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.

MonthPotential Low ($)Potential Average ($)Potential High ($)
SNX price prediction June 2024$1.70$2.442.80

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.

YearPotential Low ($)Potential Average ($)Potential High ($)
2024$2.12$2.22$2.48

SNX price prediction 2025 – 2030

YearPotential Low ($)Potential Average ($)Potential High ($)
20252.993.103.66
20264.354.505.32
20276.626.807.78
20289.619.8811.36
202913.7214.2116.52
203020.9021.4723.83

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

Firm20242025
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.
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FAQs

IS SYNTHETIX (SNX) A GOOD INVESTMENT?

Synthetix (SNX) has demonstrated strong growth and innovation in the decentralized finance (DeFi) space, attracting attention for its synthetic asset platform. However, potential investors should conduct thorough research and consider the risks associated with investing in cryptocurrencies before making any decisions.

WHERE CAN I BUY SNX?

You can buy SNX on Binance, Coinbase PRO, Gemini, OKEx, and Uniswap (V2).

IS THERE A RISK-FREE WAY OF STAKING SNX?

There is no risk-free way of staking SNX tokens; however, staking within the Synthetix protocol involves collateralizing SNX tokens to mint synths, which carries inherent market and smart contract risks.

WHAT'S MINTR?

MINTR provides users with a convenient way to interact with the Synthetix protocol, enabling them to access a wide range of synthetic assets, manage their positions, and contribute to protocol governance.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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