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Is Synthetix (SNX) a Bad Investment Thursday?

Thursday, January 27, 2022 09:41 AM | InvestorsObserver Analysts
Is Synthetix (SNX) a Bad Investment Thursday?

Synthetix achieves a low risk analysis based on InvestorsObserver research. The proprietary system gauges how much a token can be manipulated by analyzing much money it took to shift its price over the last 24 hour period along with analysis of recent changes in volume and market cap. The gauge is between 0 and 100 with lower scores equating to higher risk while higher values represent lower risk.

Risk/Reward Score - Low
InvestorsObserver is giving Synthetix a low Risk/Reward Score. Find out what this means to you and get the rest of the rankings on Synthetix!

Trading Analysis

The risk gauge rank for SNX shows the token is currently a low risk investment. Traders focused on risk assessment will find the gauge most useful for avoiding (or adding) risky investments. Synthetix is 3.98% lower as of the last 24 hours of trading, resulting in its current price of $4.95. The price movement has coincided with volume being below its average level and the token's market capitalization risen. The market capitalization for the token now sits at $568,236,760.29 while $98,132,405.63 worth of the crypto has been exchanged over the past 24 hours. The price movement relative to the changes in volume and market cap recently, gives SNX a low risk assessment.

Summary

Recent price movement of SNX gives the cryptocurrency a low risk score due to past 24 hours of price volatility in relation to volume changes, giving traders reason to be confident on the token's manipulability at the moment. Click Here to get the full Report on Synthetix (SNX).

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