The rate of the Synthetix Network Token SNX / USD cryptocurrency at the time of writing the forecast for the week of February 1-7 is $ 17.43.
The cryptocurrency is in an upward trend, which is confirmed, in addition to the classic trend signs, also by the position of the Ichimoku indicator. SNX / USD quotes are above the Ichimoku cloud, and the earlier blue fast line of the indicator broke through the red slow one from the bottom up.
Cryptocurrency resistance level - $ 19.62 (recent all-time high).
The support level is the red slow line of the Ichimoku indicator (17.17), as well as the lower border of the ascending channel and the upper border of the Ichimoku cloud - $ 16.48.
As part of the continuation of the upward trend, a short-term decline in the SNX / USD rate to the support area of $ 16.48 is expected. This will be followed by an attempt to continue the upward trend and an attempt to fix the price of Synthetix Network Token above $ 18.68 and $ 19.65.
If the Synthetix Network Token quotes fail to gain a foothold below the support level of $ 17.17, an attempt is expected to continue the upward trend without a deep pullback.
Thus, the SNX / USD forecast for the week of February 1-7 assumes a short-term rollback within the upward trend, a rebound from the support level, and a continuation of the uptrend for the Synthetix Network Token cryptocurrency.