Technical analysis by BullishEffect about Symbol SNX: Sell recommendation (5/30/2023)

The SNX/Aave parity started 2023 with high volatility. The triangular formation seen in the graph was evaluated at closing prices. Prices overflowing out of the triangle in places have continued the formation again, including the triangle. As shown in the graph, the red and green horizontal line refers to the horizontal course, and the pricing usually progress in this range. However, in the last 3 weeks, we see that the triangle outside this channel moves close to the hill boundaries. SNX In my opinion, it is close to losing its high performance against Aave, so the expectation is downward. This means: SNX increases or falls, and let's evaluate it in both directions. SNX If it increases, it may increase less than Aave, if it falls, it may fall more than Aave, which can cause a decrease in the parity. The expectation of the pair is as follows: The parity first sits in the channel, the horizontal course can continue for a while and then the first white scanned area is the first white scanned area. The second white taralı part is the section that we can exchange (transformed) with AAVE AAVE. Thank you, I will offer my respects. Don't forget to support if you like it.