OG synthetic assets protocol experiences selling alongside broader DeFi sector correction.
What's Happening:
$SNX drops 6.42% to $0.4230 amid DeFi selloff
Synthetix V3 development continues but price tracks sector
24h range from $0.4080 to $0.4540 shows elevated volatility
Fear & Greed at 24 affecting all DeFi governance tokens
Why It Matters: Synthetix pioneered synthetic assets in DeFi and V3 brings significant upgrades, but token price remains highly correlated with DeFi sector sentiment during fear events.
Technical View: SNX testing $0.42 support. Critical floor at $0.4080 (24h low). Resistance at $0.4540. OG DeFi tokens showing similar patterns during this macro-driven selloff.
🎯 Key Levels:
Support: $0.4080 | Resistance: $0.4540
24h Range: $0.4080 - $0.4540
💡 OG DeFi protocols survive every cycle - V3 development continues despite price
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Synthetix #SNX #DeFi #SyntheticAssets #Crypto
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
