SNX +60.51% in 24 Hours Amid Technical Bounce and Market Volatility

On SEP 1 2025, SNX rose by 60.51% within 24 hours to reach $0.639. This sharp short-term increase follows a prolonged downward trend, with the token down 989.16% over seven days, 206.19% over a month, and a staggering 6532.85% over the past year. The recent movement has drawn attention from traders analyzing whether the upward swing reflects a temporary rebound or a potential turning point in the asset's trajectory.

The token’s recent performance has ignited renewed interest in its technical indicators. Traders and analysts are now closely watching key levels on the chart, particularly resistance and support zones, as well as the RSI and MACD patterns. The 24-hour surge suggests a break above a critical support-turned-resistance level, which some have interpreted as a potential reversal signal. However, given the broader context of a multi-month decline, the sustainability of the upward move remains under scrutiny.

A number of market participants have pointed to the volume profile during the 24-hour period as a significant factor. The increased buying pressure in the final hours of the rally suggests a concentrated effort to push SNX above a key price level. This has led to speculation that short-term traders or institutional activity may have contributed to the price spike. However, no official reports or statements from major stakeholders have been released to confirm this.

Traders are also monitoring broader sentiment indicators for signs of a potential shift in market psychology. While the 24-hour gain is notable, it must be weighed against the token’s extreme long-term depreciation. Analysts project that a sustained recovery would require not only further price consolidation above recent highs but also a broader positive shift in on-chain activity and liquidity conditions.

Backtest Hypothesis

A proposed backtesting strategy evaluates the effectiveness of a technical trading approach based on the use of RSI divergence and MACD crossover signals. The strategy triggers buy signals when RSI shows a bullish divergence (lower lows on price but higher lows on RSI) and the MACD line crosses above the signal line. Sell signals are triggered when RSI reaches overbought levels or the MACD line crosses below the signal line in bearish divergence conditions. This approach is designed to capture short-term momentum shifts and would be tested using historical data across multiple timeframes to assess its viability in volatile market environments.