SNX is currently hovering around $0.498 - having fallen below three moving averages. MA7 is at $0.517, MA25 has climbed to $0.537, and MA99 is even higher at $0.560. Overall? Clearly bearish.

The previous surge that rose to 0.61 faced heavy selling pressure, driving it back down to 0.496, with a significant increase in trading volume. In the short term, watch the recent low of 0.496; if it breaks, the next target will be 0.45.

The resistance above is between 0.52 and 0.54, which just happens to coincide with the short-term moving average; to truly reverse the trend, we need to see if the MA99 around 0.56 can hold. In the current situation, unless buying pressure can reclaim the short- and medium-term moving averages, the bearish tune will have to continue.

SNX-7.59%

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AirdropFreedom

· 11h ago

0.496 breaking is the real beginning, so why panic now? --- Again, it's the moving average suppression, this time it feels particularly fierce. --- The selling pressure is so strong, is 0.45 just around the corner? --- If MA99 can't hold, the falling trend isn't over yet. --- Should have cut losses earlier, now selling is still too expensive. --- Rebound gets dumped, this is the rhythm of the Bear Market. --- Let's see if 0.45 can hold, otherwise it will be even harder. --- With such huge selling pressure, who still dares to buy? --- All moving averages are pressing down, not a single one is a fren. --- Where did the buying power go? Is this wave over just like that?

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SoliditySurvivor

· 12h ago

This wave of SNX is really tragic, it dropped directly from 0.61 to 0.496, the selling pressure is so intense... I'm a bit scared.

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GasFeeTears

· 12h ago

SNX really can't hold on this time, dropping directly from 0.61 to 0.496, I see this is the rhythm of breaking down. --- Another one breaking the moving average, this bear market is not just talk. --- Can 0.45 hold? I'm feeling a bit scared. --- Where are the buy orders? Why isn't anyone coming out to catch a falling knife, just like this disappointing? --- MA99 is still strong, but it really feels precarious now, I feel like 0.56 can't hold. --- I didn't run during the surge in trading volume, now I'm regretting it deeply. --- Unless there's some black swan favourable information, otherwise we're looking at starting from 0.45. --- All short-term moving averages have broken, this just announces the start of the bear market. --- Is anyone buying the dip at 0.52-0.54? Be careful not to buy at the halfway up the mountain. --- Wait, is this going back below 0.4? I don't dare to look at the candlestick anymore.

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ProveMyZK