SNX Technical Analysis Feb 19

SNX, at its current 0.30$ price, is quite close to the critical 0.2938$ support region, while downward trend dominance continues. Although short-term recovery signals are weak, liquidity collection areas may test buyers.

Current Price Position and Critical Levels

SNX is trading at the 0.30$ level with a 1.61% drop in the last 24 hours, squeezed within a daily range of 0.29$-0.33$. In the broader market structure, the price is positioned within a strong downtrend; RSI at 41.52 is neutral but approaching the oversold region, and the price continues to stay below EMA20 (0.32$), which gives a short-term bearish signal. The Supertrend indicator is also bearish and points to 0.39$ resistance. Multiple timeframes (MTF) have identified 9 strong levels: 1D with 1 support/2 resistances, 3D with 2S/2R, 1W with 2S/2R confluence. These levels are reinforced by order blocks, liquidity pools, and past tests; the price is currently trying to balance near 1D support but breakout risk is high.

Support Levels: Buyer Zones

Primary Support

The most critical primary support level is 0.2938$ (strength score: 66/100). This level stands out as a clear demand zone on the 1D timeframe; in the last two weeks, the price has experienced strong rejection from here twice, forming an order block where buyers entered with increased volume. On the 3D chart, this level also intersects with Fibonacci 0.618 retracement and EMA50 (around 0.295$) confluence, meaning multiple timeframe confirmations. Historically, 15-20% recoveries have been observed from similar levels (e.g., November 2025 test). The volume profile shows a high node here, an ideal point for liquidity collection. If this support holds, short-term reversal is possible; if broken, downward momentum accelerates.

Secondary Support and Stop Levels

Secondary supports include the 0.28$ and 0.25$ zones (3D/1W confluence); these are supported by past swing lows and liquidity gaps (fair value gaps). Especially 0.28$ functions as a 1W order block, tested three times with volume spikes. The invalidation level is below 0.29$; if broken here, the main downside target 0.0831$ (score 22/100) comes into play – this is 1W Fibonacci extension 1.618 and 80% retracement from ATH confluence. Stop-loss is recommended at 0.2920$, providing a risk/reward ratio around 1:3. These secondary supports contain liquidity pools where big players (smart money) could hunt stops.

Resistance Levels: Seller Zones

Near-Term Resistances

The first near-term resistance is 0.3182$ (score: 64/100); defined as a supply zone on the daily chart, the price has been rejected from here in the last three days with increased selling pressure on volume. In full confluence with EMA20 (0.32$), it’s a point where short-term sellers accumulate. A clean volume breakout is required for a break; otherwise, fakeout risk is high. This level also overlaps with 1D pivot point R1, carrying over 2% movement potential.

Main Resistance and Targets

The main resistance is 0.6162$ (score: 62/100), a strong supply block on the weekly timeframe; order block remaining from the June 2025 rally, tested four times and rejected each time. Supertrend resistance at 0.39$ forms an intermediate target, while 0.6162$ is in Fibonacci 0.382 extension and EMA200 (around 0.62$) confluence. Upside target 0.4748$ (score 30/100), critical for mid-term R/R; if surpassed, it opens to new highs. These resistances are ideal for liquidity grabs – large sell orders are waiting here.

Liquidity Map and Big Players

SNX’s liquidity map shows stop-loss clusters below 0.2938$; smart money is likely to accumulate long positions from here and sweep liquidity to 0.3182$. Above, sell-side liquidity is high between 0.33$-0.39$, creating bear trap potential. On the 1W chart, imbalances (FVGs) are in the 0.25$-0.28$ range, big players may pull the price there to fill these gaps. Volume analysis shows divergence with decreasing volume on the recent drop – possible accumulation signal. Overall, while the downtrend continues, liquidity hunting strengthens the downward bias, but a hold at 0.2938$ could trigger reversal.

Bitcoin Correlation

BTC is currently at 67,034$ with a 1.72% drop in downtrend; main supports at 65,143$, 62,910$, and 60,000$. SNX shows high correlation with BTC (0.85%) – with BTC Supertrend bearish, caution dominates altcoins. If BTC breaks below 65,143$, SNX tests 0.2938$ and downside accelerates; conversely, if BTC surpasses 67,962$ resistance, a 0.3182$ breakout opportunity arises for SNX. BTC dominance increase could pressure SNX, key BTC levels should be closely monitored: a 62,910$ break directly leads SNX to 0.25$.

Trading Plan and Level-Based Strategy

Level-based outlook: Holding above 0.2938$ is key for bullish scenario – longs entry at 0.2950$, targets 0.3182$/0.39$, stop 0.2920$. In case of breakdown, short bias: entry below 0.2938$, targets 0.28$/0.25$, invalidation 0.3182$. R/R ratio 1:4 upside, 1:3.5 downside. For spot, check SNX Spot Analysis, for futures SNX Futures Analysis. This is dynamic based on market structure; volume and MTF confirmation required. Risk management is essential – position size should not exceed 1-2%.