After a chaotic week that saw over $500 billion wiped from the crypto market, Synthetix (SNX) has emerged as one of the fastest-recovering tokens. Following the flash crash triggered by renewed US–China trade tensions and massive derivatives liquidations, SNX bounced back with surprising strength—rallying nearly 90% in under 48 hours to trade around $1.86.
SNX Leads DeFi’s Post-Crash Rebound
While Bitcoin and Ethereum clawed back moderate gains, Synthetix outperformed much of the market. Traders attribute this resilience to a rotation back into DeFi and synthetic asset protocols, as sentiment improves following last week’s panic. SNX’s momentum was further boosted by the team’s upcoming Ethereum mainnet perpetual DEX launch, which promises gasless trading and multi-collateral support—features that could redefine its utility within decentralized derivatives.
The announcement of a $1 million trading competition tied to the DEX rollout has also reignited community activity, driving both trading volumes and social engagement higher. As speculative interest returns to the DeFi sector, Synthetix is quickly becoming a focal point of that capital rotation.
Synthetix Price Analysis: How High Can the SNX Price Go in 2025?
The Synthetix price witnessed a massive 75% fall since the beginning of 2025, followed by a 35% drop after the rejection from the 2024 highs. Fortunately, the start of the month turned out to be extremely bullish, with the price volatility spiking to levels not seen in the past few months. The trading volume spiked, which pushed the SNX price up by more than 75% since the start of October and triggered nearly a 100% recovery caused by the recent crash.
The historical price action of SNX suggests the token has risen above the bearish range. The token has entered a consolidation phase as it enters the Ichimoku Cloud while the levels and the bullish validation are still awaited by the conversion and base lines. On the other hand, the weekly RSI rises into the overbought range, which usually attracts some cooling-off period. Therefore, the price is expected to consolidate above the immediate support range between $1.37 and $1.48, followed by a bullish continuation towards higher targets.
Synthetix has witnessed an unprecedented rise in the trading volume by over 800%, reaching over a billion, not seen since its inception. This reflects the rise in the investors’ interest over the token, fluttering a bullish flag over the token. Therefore, the SNX price could reach $5 before the end of 2025 if the current momentum persists and a bullish close for 2025 may pave the way for a new ATH in the coming years.
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