SNX Surges 302.57% in 24 Hours Amid Market Volatility

On SEP 2 2025, SNX rose by 302.57% within 24 hours to reach $0.639, while recording a 772.36% drop over the past week. The token has seen a 29.46% increase over the last 30 days but has dropped 6449.43% in the past year.

SNX’s dramatic 24-hour rally was attributed to a combination of on-chain activity and market sentiment shifts. Recent on-chain data showed a spike in unique wallet addresses receiving SNX tokens, signaling increased adoption or redistribution. While the 772.36% weekly loss reflects the token’s extreme volatility, its 30-day gain suggests some level of stabilization or renewed institutional interest.

Technical indicators show the asset is currently trading near key resistance levels. The RSI has moved into overbought territory, suggesting a potential near-term correction may be imminent. However, the MACD remains bullish, with both the signal and histogram lines trending upward. These diverging signals highlight the token’s high volatility and mixed momentum.

Analysts project the next few days will be pivotal for SNX, as price action following the recent spike could either confirm a broader uptrend or trigger a sharp reversal. Some observers point to the need for a sustained break above the $0.70 level to validate further bullish sentiment. Conversely, a drop below the $0.50 support would likely rekindle bearish momentum.

Backtest Hypothesis

A potential trading strategy was backtested using historical SNX price data, focusing on a combination of RSI and MACD signals. The strategy triggers a long position when the RSI dips below 30 and the MACD line crosses above the signal line, with an exit condition when RSI exceeds 70 or the MACD line drops below the signal line. The hypothesis assumes that these divergences can capture short-term momentum shifts amid SNX’s historically high volatility. This approach aligns with the recent technical indicators observed, offering a structured method to test the asset's behavior under similar conditions.