Mega Whales Position Early in Synthetix (SNX) Breakout Setup

[cryptoenthusiast]

Synthetix (SNX) is another token seeing notable whale activity following the tariff decision. Data from Nansen shows the top 100 addresses increased holdings by 1.47%, adding approximately 4.52 million SNX — worth around $1.83 million at current prices. Unlike smaller holders, mega whales appear to be buying during strength rather than dips, signaling conviction.

From a technical perspective, SNX is shaping a cup-and-handle pattern — a bullish continuation formation. The key breakout level sits near $0.42, and sustained movement above that level could target $0.73, implying a potential 72% rally. Key supports during consolidation lie at $0.36 and $0.32, while a drop below $0.24 would invalidate the bullish structure.

[kevin1]

tariff relief → risk sentiment improves → higher beta alts like SNX catch bids. makes sense structurally