See More

Synthetix (SNX) Price Prediction 2024/2025/2030

10 mins
Fact Checked
by Ish Bautista
Join our Trading Community on Telegram

Ever thought of buying real-world assets — like stocks and commodities — on the blockchain? The Synthetix network is a decentralized protocol that helps prepare synthetic assets or synths — blockchain versions of real-world assets. SNX, its native token, is currently trading at an 86% discount to its all-time high. But is SNX a good investment option? This SNX price prediction considers just that.

For the unversed, Synthetix was initially built on/as Havven — a stablecoin protocol — before moving to Ethereum. It now operates on Optimism mainnet in order to offer faster throughput and lower gas fees. Synthetix also supports smart contracts, eliminating middlemen in the process. Once a participant mints synthetic assets (synths) using the Synthetix network, they get SNX tokens in the process. And every time the synths get issued, the smart contracts lock up SNX as collateral.

Want to get SNX price prediction weekly? Join BeInCrypto Trading Community on Telegram: read SNX price prediction and technical analysis on the coin, ask and get answers to all your questions from PRO traders! Join now

This article may be outdated, we suggest you visit our new Synthetix Price Prediction tool.

Synthetix (SNX) price prediction using fundamental analysis

Before we delve into the on-chain metrics and technical analysis of the Synthetix network, here are the fundamentals:

  1. It is a proof-of-stake network and, therefore, a desirable choice for enterprises that might want to move real-world funds to the blockchain.
  2. SNX, the native token, is ERC-20 compatible. It can therefore work with multiple crypto wallets.
  3. Three Arrows Capital was an institutional investor in Synthetix.
  4. It helps with asset creation and asset exchange using smart contracts.
  5. Kain Warwick is the brain behind the Synthetix Network, who started the vigil as Havven. 
  6. Apart from Kain Warwick, the project comprises Peter McKean as the CEO and Jordan Momtazi as the COO. 
Synthetix investors: Messari
Synthetix investors: Messari

Also, Synthetix has a pretty solid DeFi presence. The network in 2022 ranked 2 in terms of TVL on the Optimism network. In 2024, it has claimed the 1st place.

However, its month-on-month DeFi performance in 2022 wasn’t the best, as the TVL dipped 10.25% in the interim. 

SNX price prediction using DeFi presence
SNX DeFi presence: DeFiLlama

The Synthetix network looks fundamentally strong. This could positively impact its overall market cap and price action in the long term.

SNX price prediction using tokenomics

SNX follows an inflationary schedule. However, the issuance curve is disinflationary. As of December 2022, the supply is capped at 3.08 billion, of which 81% makes the overall circulating supply. 

SNX supply distribution: Messari
SNX supply distribution: Messari

The initial issuance was in March 2018, when 1 billion SNX tokens came into existence — with 60% moving to the investors. 

Did you know? In December 2019, Synthetix governance lowered the inflation percentage and added the same to perpetuity.

Here is what the supply of active SNX rewards to SNX stakers looks like currently:

SNX supply curve: Messari
SNX supply curve: Messari

The token economics look good, as a high percentage belongs to investors. Also, staking rewards comprise a major chunk of the token supply. Hence, if the circulating supply and market cap keep growing, so will the Synthetix ecosystem.

SNX price prediction using on-chain metrics (based on 2022-23 evaluation)

The Binance SNX-USDT market is popular and active. However, the funding rate associated with it has been in the negative territory for quite some time. This likely isn’t a positive sign for the short-term price of SNX. 

SNX price prediction using funding rate: Santiment
SNX price prediction using funding rate: Santiment

Also, the SNX supply managed by top addresses has increased steadily, hinting at whale accumulation.

SNX price prediction using supply held: Santiment
SNX price prediction using supply held: Santiment

And finally, active addresses holding SNX tokens are currently higher than the July 2022 levels. This might soon start a rally at SNX’s counter, provided the market conditions support it.

SNX price prediction using active address growth: Santiment
SNX price prediction using active address growth: Santiment

SNX price prediction using technical analysis

The fundamental and on-chain insights relevant to SNX suggest long-term optimism may not be misplaced. Now, let’s consider the price charts and technical analysis. Here is a weekly chat for reference, identified in December 2022.

Synthetix pattern: TradingView
Synthetix SNX raw chart: TradingView

As the SNX token has been around since 2020, even the weekly chart gives us multiple points to plot future prices.

So let us plot the points and locate the pattern:

Finding the pattern

Notice the price of SNX is following a downward trend. However, it clearly shows that a “three drives” weekly pattern is in play. Therefore, there might be a trend reversal down the corner. 

Synthetix pattern: TradingView
Synthetix pattern: TradingView

Now let us mark the high and low of the drives with alphabets.

The next high and low

Here is the marked chart pattern. With this, we can locate a pattern between the highs and the lows to project the next high.

SNX price prediction using high to low: TradingView
SNX price prediction using high to low: TradingView

Here is the data with the important level identifications:

A to B = -81.12% and 133 days; B to C = 193.08% and 84 days; C to D = -78.21% and126 days; D to E = 123.88% and 70 days; E to F = -83.14% and 77 days

The data (data set 1) shows that the lows and highs are rather symmetrical. They follow similar percentage drops and similar percentage hikes, respectively. Now, let us take the average value of B to C and D to E to locate the next high.

Percentage increase: 158.48 or 159%

Days from low to high: 77 days 

Now, if we plot the path, we see that it was a success, as the price of SNX touched $3.554 on Aug. 29, 2022. This indicates our analysis is heading in the right direction.

SNX price prediction
SNX successful pattern: TradingView

We can even use the average of A to B, C to D, and E to F to find the next low, which might be in 2023. 

Percentage drop: 81%

Days from high to low: 112 days 

The high for the previous iteration is at $4.418 on Aug. 1, 2022. So the next low could be at $0.847, but the price of SNX respected the immediate support to flatline at $1.57. This means SNX supports key support and resistance lines. 

Pattern change

Outlook: Bullish

So the next high followed the “three drive” pattern and was still a lower high. With the growth at SNX’s counter, we can expect the next set of motions to be different. Here’s how.

SNX similar patters: TradingView
SNX similar patterns: TradingView

If you see the two encircled zones, you will notice that the one on the left is similar to the one on the right. Also, the left one started the new swing high pattern (lower highs). If we plot the resistance line, we see the highs associated with both these zones are nearly at the same level. 

We can now plot the distance and price from the first high to the peak. Mark them from Z to A.

SNX price prediction low to high
SNX low to high: TradingView

The distance is 161 days

The growth percentage is 266.15%

The pattern doesn’t make another peak but forms a bottom instead. Now, we can plot the distance and growth between the low of the first zone and the first peak. 

Distance: 210 days

Peak growth: 1111.63%

From the projected low of $0.847, the 210 days and a 1111.63% growth sits at $10.255. That works in a standard crypto market. 

In a bear market expected to hold through 2023, we can expect SNX to find resistance at $3.59. 

Here are the two projected levels (optimistic and practical):

SNX failed pattern: TradingView
SNX failed pattern: TradingView

Synthetix (SNX) price prediction 2023

We could successfully predict the price of SNX in 2023. Here are the insights, in case you want to read further:  

The projected high in 2023, as per the resistance line, can surface at $3.59. However, it will still mean that SNX is in a downtrend. So, we can look for the next low using the first table.

SNX price prediction 2023: TradingView
SNX price prediction 2023: TradingView

The average value is 112 days a drop of 81%. Let us plot the same using the high of $3.59. The low comes at $0.655. However, that would be too low. Assuming the smart contract-driven Synthetix network keeps growing, SNX in 2023 might find support at $2.440. This coincides with the support level seen when SNX started trading. 

Also, hitting that support means the lower-low pattern is finally defeated, setting SNX on an up-trending path. Here is the grouping that we are talking about.

Short-term validation

Outlook: Neutral

Let’s pull out SNX’s daily chart to see if the trend is really a friend and can increase SNX prices. Well, for now, SNX is trading in a descending triangle pattern. A breakout south of the lower trendline can trigger a short-term dip. 

SNX price prediction short-term: TradingView
SNX price prediction short-term: TradingView

But then, the RSI hints at a small rally courtesy of a bullish divergence. The momentum indicator suggests a higher low, whereas the price suggests a lower low. SNX might do well if it has a bullish broader market.

Synthetix (SNX) price prediction 2024

Outlook: Bullish

Percentage increase: 158.48 or 159%

Days from low to high: 77 days (days can increase depending on the market conditions).

We can expect SNX to move as high as $6.37 as per the SNX price prediction 2024 model.

SNX price prediction 2024: TradingView
SNX price prediction 2024: TradingView

Projected ROI from the current level: 63%

Synthetix (SNX) price prediction 2025

Outlook: Bullish

The low can hit the immediate support level of $4.418, the peak of the late 2022 pattern. 

That would be the low of 2024. The next high in 2025 is 159% in 77 days. (the time can change depending on the crypto market conditions) The high surfaces at $11.46, but as per the resistance line of $8.76, the price of SNX might flatline there. The low can then close in on the support line of $6.781. 

Here is the path to trace:

SNX price prediction 2025: TradingView
SNX price prediction 2025: TradingView

Projected ROI from the current level: 123%

Synthetix (SNX) price prediction 2030

Outlook: Bullish

If we use the Fib indicator using the 2024 lows and the 2025 highs, we can find the next resistance levels for the Synthetix network or the SNX tokens. 

SNX price prediction 2026
SNX price prediction 2026: TradingView

If the same growth pattern for SNX continues and users keep relying on synthetic assets, we can expect the next price level to be $13.729. This is the SNX price prediction for 2026. The low can retrace as low as the 61.8% Fib level to surface at $10.062.

SNX price prediction 2027
SNX price prediction 2027: TradingView

By now, we can expect SNX to gain some bullish strength. Therefore, it might have the legs to go as high as 159% from the previous lows to make a 2027 high of $23.088. Do note that SNX could go as high as $27.5, keeping the 159% growth in mind (from data set 1). However, the strong resistance at $23 means that $23.088 happens to be the 2027 peak. The low could be at $19.065 — at 78.60% Fib level.

Now, we can plot Fib levels using the low of 2026 and the high of 2027.

The same growth curve places SNX at $42.14 by the end of 2028 or early 2029. 

Here is the path till 2028-2029:

SNX 2028
SNX price prediction 2028: TradingView

Now, taking the 2027 low and the 2029 high into account, the next set of Fib levels place the 2030 level at $59.26.

Here is the projected path:

SNX 2030
SNX price prediction 2030: TradingView

Projected ROI from the current level: 1411%

Synthetix (SNX’s) long-term price prediction until 2035

You can easily convert your SNX to USD

If you want to see the price of SNX beyond 2030, here is a table that traces the path till 2035:

Year | Maximum price of SNX | Minimum price of SNX
2024 $6.37$4.41
2025 $8.76$6.78
2026 $13.72$10.06
2027 $23.08$19.06
2028 $42.14$26.12
2029 $50.56$31.34
2030 $59.26$46.22
2031 $74.07$57.77
2032 $92.59$57.40
2033 $101.84$63.14
2034 $112.02$87.37
2035 $134.42104.84
SNX price levels

Yearly price predictions might vary depending on the bear and bull cycles. As such, it is always better to consider the SNX tokens’ average price. 

How accurate is the SNX price prediction?

The SNX price prediction model takes fundamentals, tokenomics, on-chain metrics, and technical analysis into consideration. And that makes the model highly practical and in line with the market sentiments. Still, for SNX price predictions to hold, it is necessary that the ecosystem keeps growing with more synthetic assets coming into the scheme of things. SNX will need the support of the broader market to validate its stance as a good investment option.

Frequently asked questions

Is SNX coin a good investment?

Does SNX have a future?

What is SNX worth in 2024?

What is SNX coin used for?

How much is SNX worth in 2025?

Is SNX a Stablecoin?

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Trusted

Disclaimer

In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only. BeInCrypto prioritizes providing high-quality information, taking the time to research and create informative content for readers. While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Ananda.png
Ananda Banerjee
Ananda Banerjee is a technical copy/content writer specializing in web3, crypto, Blockchain, AI, and SaaS — in a career spanning over 12 years. After completing his M.Tech in Telecommunication engineering from RCCIIT, India, Ananda was quick to pair his technical acumen with content creation in a career that saw him contributing to Towardsdatascience, Hackernoon, Dzone, Elephant Journal, Business2Community, and more. At BIC, Ananda currently contributes long-form content discussing trading,...
READ FULL BIO
Sponsored
Sponsored