SNX Market Report — Expansion or Exhaustion?SNX / Tether PERPETUAL FUTURESMEXC:SNXUSDT.Pcandle_craftsAfter months of compression, Synthetix (SNX) just delivered a breakout candle of unusual size. Price ripped from $0.60 lows to a $1.15 tag in a matter of sessions, shifting sentiment from dormancy to acceleration. The backdrop: •HTF resistance sits overhead at $1.20–1.35 — the last breakdown area. •A reclaim here on volume projects $1.80–2.00 as the expansion target. •Failure to sustain $0.95–1.00 retests risks dragging price back into $0.70–0.75. Momentum reads: •Open interest ballooned +30% in two days, but funding remains neutral. This isn’t yet the frothy late-stage push. •Spot CVD prints positive — confirming that the bid isn’t just leveraged fuel, but real inflow. •Short liquidations have been cleared into $1.15; fresh long liquidity now builds below $0.95. Market path: •Bullish: Pullback into $1.00–1.05 POC cluster holds → $1.20–1.35 retest, with room toward $1.80. •Bearish: Rejection at $1.20–1.22 sends price back to $1.05 or even the inefficiency gap at $0.90. Scalp Playbook: 🟢 Long setup: $1.00–1.05 entry, stop $0.88, targets $1.20 → $1.35 → $1.80. (~3.5:1 RR) 🔴 Short hedge: $1.18–1.22 entry, stop $1.30, targets $1.05 → $0.90. (~2.5:1 RR) Bottom line: SNX is no longer dormant — the expansion is real. Whether it becomes a sustainable cycle or burns out at $1.20 will depend on how the next retest resolves. ⚔️ Candle Craft | Signal. Structure. Execution.