Recently, SNX has been driven by both market sentiment and brand exposure, surging above $0.30 with increased volume, confirming a bullish pattern. Technically, the $0.28–0.29 range has established a solid bottom, with both MACD and RSI improving in tandem, suggesting a short-term potential to challenge the $0.32–0.33 resistance. It is recommended to build long positions around the $0.295–0.30 support zone; if trading volume continues to expand, positions can be added. However, if this support breaks, caution is advised.

A recent online livestream organized by the platform attracted several well-known KOLs to discuss capital rotation and risk management between traditional finance and the crypto market, raising the market’s attention on SNX. The event strengthened investors’ strategic awareness, leading to a steady recovery in SNX’s trading volume within the $0.28–0.29 range in early April and a gradual formation of a bottom. Short-term market sentiment has improved as a result.

Decentralized contract trading platform SunX will host a livestream at 8 PM (UTC+8) titled "Bull and Bear Crossroads: TradFi Heating Up, Crypto or US Stocks?" Crypto KOLs including Jack C., Maomaojie, DaDa, Shiziyang|Golden.S, and Qiurong will discuss the divergence between US stock and crypto markets, capital rotation between traditional finance and crypto assets, trading strategies, risk control, and future opportunities and asset allocation.

TradFi heats up, Crypto fluctuates: SunX will live stream today to discuss current market investment strategies.

With Bitcoin’s price momentum significantly strengthening and spot buying pressure intensifying, overall market sentiment has continued to improve. Capital has gradually flowed towards secondary assets. Since mid-April, SNX bulls have dominated, with the price breaking through the $0.30 level on April 16, accompanied by a notable increase in trading volume—reflecting bullish recognition and drive at this price level.

On the daily chart, after completing a pullback around $0.27 at the end of March, SNX established a strong support zone at $0.28–0.29. Recently, it has closed consecutively above $0.30, effectively breaking the previous consolidation resistance. Technically, MACD is poised for a bullish crossover, RSI is near a neutral-to-bullish level, and trading volume is steadily increasing. Short-term bullish momentum remains; if volume continues to grow, the $0.32–0.33 resistance can be targeted. In case of a pullback, watch the effectiveness of support at $0.295–0.30.

Synthetix

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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SNX price today is 0.31, with a live price change of -0.50 in the last 24 hours. Convert, buy, sell and trade SNX on Bybit.

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