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- SNX price is currently trading at $2.581 while recording a fall of 16% in 24-hour trading volume.
- SNX price observed a decline of 2.42% in the last 24 hours.
After being under bearish influence for a few months, the buyers finally stepped into the market. SNX price took support from an important EMA line where it also produced a bullish crossover. The oscillators are moving toward the overbought level. The overall price action might be in the initial stages of a bullish trend – because of the higher-highs and higher-lows.
SNX price after making a bullish rally, took resistance at $4.200 and made a sharp 38% downturn. Followed by a small consolidation, the price continued on its bear trend. Overall SNX price fell 65 percent post which the price took support from its previous support level of around $1.422 and made a break-out with a 63 percent rise. Since then, the price is in an ascending consolidation pattern.
SNX Price Taking Support From the 200 EMA on the 1-day Chart
Technical Analysis (1-Day Timeframe )
SNX price is trading above the 200 day EMA changing its trend in favour of the bulls. The 100-day EMA crossed above the 200-day EMA which is an extremely bullish golden crossover. The price is at present taking support from the 100-day EMA where the 200-day EMA is trading just below it, providing strong support to the price.
The RSI line recently crossed the 14 SMA. It might also cross the median line providing a bullish crossover. The RSI value is 49.38. The stochastic line took a reversal from the oversold levels and crossed above the median line.
Technical levels –
Support -$2.231
Resistance – $3.400
Disclaimer
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