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

Key takeaways:

• The average SNX price prediction for 2024 is $1.51.
• In 2027, it will range between $4.60 and $5.60, with an average price of $4.73.
• In 2030, it will range between $13.47 and $16.37, with an average price of $13.95.

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

SNX price prediction: Technical analysis

Synthetix price analysis: SNX corrects at $1.66

TL;DR Breakdown

• Synthetix price analysis confirms a bearish price action at $1.66 for the day.
• Despite the correction, SNX shows a 0.25% improvement in its value from its previous close.
• SNX prices are seeking support around the $1.61 margin.

On September 25, 2024, Synthetix’s price analysis revealed a downward daily trend for the cryptocurrency after a successful bullish streak. It dropped to $1.66 in the past 24 hours, but it still managed to gain up to 0.24% of its value during the past 24 hours. The rising selling pressure can lead to a further loss in the cryptocurrency’s value. However, the coin’s performance has been bullish overall during the past week.

SNX/USD 1-day chart: Selling pressure triggers after two days of bullish activity

The 1-day price chart of Synthetix confirms a bearish scenario. It dropped to $1.66 during the past few hours. The overall market sentiment remains neutral as well. Considering the corrective swing, the coin value still resides above the moving average. 

The area between the Bollinger bands defines the market volatility. As this area is currently increasing, this indicates a rising volatility. The upper band of the Bollinger bands indicator has moved to $1.70 high, securing the resistance point. The lower band of the Bollinger bands indicator has shifted to $1.19, indicating support.

The Relative Strength Index (RSI) indicator is in the neutral region. Its value descended to 63.11 during the day. The decreasing movement of the RSI indicator marks a bearish trend. This decline confirms that selling activities are going higher than buying activities. The slope on the RSI graph refers to a building selling pressure.

SNX/USD 4-hour chart analysis

The four-hour price analysis of Synthetix coin confirms a downward trend for the cryptocurrency. But, the price has advanced up to $1.66 in the past four hours. If observed overall, the market sentiment remained negative today; however, an upturn was recorded in the past few hours. There is a lower chance of a reversal in the market trends for now.

The area between the Bollinger bands is widening but at a very slow rate, referring to a slight increase in volatility levels. This decline ultimately confirms lower market unpredictability. At the same time, the upper boundary of the Bollinger bands indicator has shifted to a $1.71 high, marking resistance. The lower boundary of the Bollinger bands indicator has moved to the $1.50 end, securing support.

The RSI indicator is within the neutral region at 61.35. The slight upward curve on the RSI graph indicates a restoration of buying impulse. The indicator’s value has gradually improved in the past four hours. Still moving upwards, this increasing movement marks a bullish trend and recovery for the cryptocurrency.

SNX technical indicators: Levels and action

Daily simple moving averages

Daily exponential moving averages

What can we expect from SNX price analysis next?

Synthetix price analysis for the day gives a bearish prediction regarding the current price movements. It dropped down to a $1.66 low during the past 24 hours. This declining movement therefore confirms a bearish supremacy and a downward trend for the day. If we talk about the technical indicators, they show a neutral market scenario, similar to the slight correction seen on the price charts.

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 faces the same sentiment. However, it is still encouraging that SNX is one of the best performers and has moved above its average since August 13, 2024. The SNX price has decreased to $1.66; however, it has still gained up to 0.25% of its value since the last 24 hours

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

• Users of Synthetix on Arbitrum can now profit by directly staking in the CurveFinance Gauge or by offering USDx liquidity on StakeDAOHQ. In advance of the release of Synthetix Perps on Arbitrum, Synthetix has also started offering incentives for its native stablecoin, Arbitrum, with 3,000 SNX being given away each week as vote rewards.

SNX price prediction September 2024

SNX downfall is expected to slow down. Support is also expected to appear soon with the next target at $1.64. It will average at $1.41 and trade at a minimum price of $1.19.

SNX price prediction 2024

The price of SNX is predicted to reach a minimum value of $1.45 by Q4 of 2024. Traders can anticipate a maximum value of $1.64 and an average trading price of $1.51.

SNX price prediction 2025 – 2030

SNX price prediction 2025

The Synthetix price forecast for 2025 is a high of $2.57. The minimum price for the year will be $2.18, and the average will be $2.24.

SNX price prediction 2026

The year 2026 will experience more bullish momentum. According to the SNX price prediction, it will range between $3.24 and $3.83, with an average trading price of $3.35.

SNX price prediction 2027

The SNX price prediction climbs even higher into 2027. According to the projections, the price of SNX will range between $4.60 and $5.60, with an average of $4.73.

SNX price prediction 2028

According to our SNX price prediction for 2028, we expect a maximum price of $7.87, a minimum price of $6.42, and an average price of $6.61.

SNX price prediction 2029

According to the SNX price prediction 2029, SNX will reach a maximum and minimum price of $11.07 and $9.53, respectively, with a year-round average of $9.79.

SNX price prediction 2030

The Synthetix SNX price prediction for 2030 indicates a price range of $13.47 and $16.37 and an average price of $13.95. This prediction also hinges on the global recognition and adoption of blockchain technology.

Synthetix market price prediction: Analysts SNX price forecast

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 $1.64 by the end of 2024. SNX is expected to trade between $2.18 and $2.57 in 2025. In 2030, SNX will be priced between $13.47 to $16.37 with an average price of $13.95.

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.
• In August 2024, SNX token’s price dipped as low as $1.20, and in September the token is trading at $1.28 without much difference.