SNX 1D Global chart and liquid zones for buy and sell

Synthetix is a decentralized finance (DeFi) protocol, the network of which was launched at the end of 2017.
However, the price of the SNX token was able to shoot only in 2020, when the hype around DEX exchanges and DeFi projects rose on the crypto market.

Now the price of SNXUSDT is approaching the critical level of $12.60 from where a downward correction may begin.
An important task for buyers is to keep the price above the $7-7.60 zone. In this case, there will be all conditions for continued growth to $16.

If the bulwark of buyers' protection in the $7 region does not withstand the invasion of sellers, then the continuation of the fall to the $4 region will become quite real.

However, if you narrow down the chart presented, you will see a long history of trades in the SNXUSD pair. The chart clearly shows that even a theoretically possible price drop to $4 will still look like consolidation in the upper part of the global chart and will not carry anything critical for long-term investors.
Short and medium-term speculators need to be vigilant, use stops in trading, and pay special attention to the liquid areas that we have highlighted on the chart.
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