【$SNX Signal】Empty position, waiting for key support confirmation

$SNX is forming a consolidation at a low in a long-term downtrend. The current price is testing recent support at the low point but lacks a clear bottom reversal signal.

🎯 Direction: Empty position

The chart shows the price trading below the EMA20 (0.2832), indicating a bearish overall trend. Multiple rebounds on the 4H timeframe have been suppressed, with the latest candlestick showing only 47% buy volume, indicating weak active buying interest.

Depth data shows an imbalance in buy orders (+24.49%), but they are mainly concentrated below 0.27, representing passive resting orders rather than active buying pushes. Open interest remains stable, funding rate is slightly positive (0.01%), with no signs of short squeeze or major sell-offs by large players.

RSI (43.35) is in a neutral-weak zone, not yet oversold. The price needs to stabilize above EMA20 and see open interest rise to confirm a short-term trend reversal. Currently, the market is in a state of indecision between bulls and bears, with an unclear risk-reward ratio.

Risk management perspective: Key support is at 0.27 (previous low). A break below could trigger a new downward move. Strong resistance above is at EMA20 (0.2832) and 0.286 (recent high). Until the price clearly breaks above 0.286 or drops through 0.27 with increased volume, the best strategy is to stay out and wait for market direction to clarify.

Trade here 👇 $SNX

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