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Should You Buy Synthetix (SNX) Saturday?

Saturday, July 02, 2022 12:48 PM | InvestorsObserver Analysts
Should You Buy Synthetix (SNX) Saturday?

InvestorsObserver analysis gives Synthetix an average risk assessment. The proprietary scoring system calculates how much money was required to move the price over the past 24 hours with changes in volume and market capitalization to discover if a crypto can potentially be easily manipulated by limited trading activity. Low values representing high risk while high scores equate to low risk based on a 0 to 100 range.

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

Trading Analysis

SNX's current risk score means it is a relatively moderate risk investment. Investors primarily concerned with risk assessment will find this score most useful in order to avoid (or potentially seek out) risky investments.
The price of Synthetix is 17.01% lower over the last 24 hours, leading to its current value of $2.57. The change in price goes along with volume being below its average level while the token's market capitalization has risen during the same time period. The crypto's market capitalization is now $295,321,697.42, meanwhile $122,143,915.47 worth of the currency has been traded over the past 24 hours. The volatility in price relative to the changes in volume and market cap changes give Synthetix an average risk analysis.

Summary

Recent price movement of SNX gives the cryptocurrency an average risk score due to past 24 hours of price volatility in relation to volume changes, giving traders reason to be not overly concerned on the token's manipulability at the moment. Click Here to get the full Report on Synthetix (SNX).

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