#SNXUSDT is gearing up for a major breakout from its descending channel on a daily timeframe. The price has consistently respected the trendlines within this formation, but recent developments suggest we could be on the verge of a significant move.

a potential retest of the around $1.400 , a key area packed with liquidity. This zone could act as a springboard, propelling SNX towards a breakout above the descending resistance. If this scenario plays out, it would signal a potential trend reversal, aligning with our bullish outlook.

if the liquidity at $1.850isn't enough to fuel a breakout, we might see a retest of the lower support level at $1.400 . A strong buying interest here could provide the necessary momentum for an upward move. Keep an eye on this level for potential signs of a bullish rally.

But be cautious! If support level fail, #SNXUSDT could face increased bearish pressure, potentially leading to further declines. Monitoring the lower support zones will be crucial to gauge the extent of any downward move.

#SNXUSDT is showing promising signs of a potential bullish continuation . However, for this bullish momentum to hold, the price needs to remain steady at the support level, potentially setting the scene for a breakout above the internal resistance.

there’s always the risk of momentum fading. If #SNXUSDT fails to break above $2.000and begins to weaken, sellers could step in. The critical level to watch is the bullish order block at $1.100, which has proven resilient in the past.

#SNXUSDT has recently exited the descending channel and successfully broken through the resistance zone between $2.040 and $1.850. Following this breakout, the price surged to the first target of $3.35. However, it has since retraced below the previously broken resistance level. Currently, the market appears to be consolidating and gathering the necessary liquidity for a potential upward move, which could lead to another price rally.