SNXUSDT Breakout Alert! Are We Witnessing the Early Stages?📌 🔍 Overview:
After months of relentless downward pressure, SNX has finally shown a strong technical breakout. The price has decisively broken above the long-term descending trendline, signaling a potential shift in structure from bearish to bullish. This could mark the beginning of a significant impulse wave to the upside.
📐 📊 Technical Structure & Key Pattern Breakdown:
🔻 Broken Downtrend Line: Price action has successfully broken above a descending trendline that has been in place since December 2024, effectively ending the bearish dominance.
🔺 Falling Wedge Pattern: A classic falling wedge has formed and recently completed with a confirmed breakout — a bullish reversal pattern that often precedes strong upside momentum.
🟨 Accumulation Zone (Base Support): The yellow box between $0.60 – $0.72 acted as a major accumulation zone and now flips into a strong demand/support area.
📈 Higher Lows Structure: The recent structure of higher lows signals a shift in market sentiment, showing early signs of accumulation and bullish interest.
✅ Bullish Scenario (Upside Continuation):
If price holds above the breakout zone and confirms strength:
🎯 Target 1: $0.938 (key horizontal resistance)
🎯 Target 2: $1.042 – $1.100 (historical resistance zone)
🎯 Target 3: $1.248 – $1.625
🎯 Target 4 (Mid-term rally): $1.966 – $2.197
🏁 Final Bullish Target (Longer term): $3.372 – $3.686
A strong continuation would require confirmation via increased trading volume and bullish momentum from the broader crypto market.
❌ Bearish Scenario (Failed Retest or Rejection):
However, if the price fails to sustain above the breakout level:
🚨 Risk of a false breakout emerges if price falls back below $0.724
🔻 Breakdown of the yellow support box could trigger a deeper correction toward:
Support 1: $0.60
Support 2 (Major Low): $0.480
This would form a classic bull trap and extend the consolidation phase.
⚠️ Validation & Risk Considerations:
Volume confirmation is key. A breakout without rising volume may lack follow-through.
Watch closely for price action in the coming days — will it hold above the breakout zone or fall back?
Strategy: Look for retest entries or enter with partial exposure, using tight risk management.
🧠 Conclusion:
SNXUSDT is at a pivotal turning point. The breakout from a falling wedge pattern combined with higher low formations is a textbook bullish reversal setup. If price holds and buyers step in, we may be witnessing the early stages of a major bull run for SNX.
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