Status Price Prediction 2021 – Will SNT Hit $0.3 Soon?

Status Price Prediction 2021 - Will SNT Hit $0.3 Soon?
  • Bullish SNT price prediction for 2021 is $0.107.
  • The SNT price might also reach $0.3.
  • SNT bearish market price prediction for 2021 is $0.019.

In SNT price prediction 2021, we use statistics, price patterns, ADX, and much other information about SNT to analyze the future movement of the cryptocurrency. 

Status ​is categorized as desktop and mobile operating systems and distributed browsers that include messaging systems. It allows  interaction with the network anytime, anywhere. It is an Ethereum node that allows users to access all decentralized Ethereum applications (also known as DApps) through apps installed on their phone or tablet. This means that users can send encrypted messages and access decentralized applications, including crypto wallets.

Current Market Status of Status (SNT)

According to coingecko the price of SNT is $0.09 with a 24-hour trading volume of $29,081,943 at the time of writing. However, SNT dropped to 6.8% in the last 24 hours.

Moreover, SNT has a circulating supply of 3,880,483,788 SNT coins. Currently, SNT trades in cryptocurrency exchanges such as Binance, OKEx, Huobi Global, CoinTiger, and Upbit.

Status (SNT) Price Prediction 2021

Status (SNT) holds the 161th position on Coingecko right now. SNT price prediction 2021 explained below with a weekly time frame. 

SNT/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern.

As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.

Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

Currently, SNT is trading at $0.09. After this, SNT may continue to fall or rise according to the direction of breakout. With this pattern, SNT might reach the resistance level at $0.305 soon, if the trend breaks out at $0.098. If the trend reverses, then the price of SNT may fall to $0.045.

Status (SNT) Support and Resistance Level

The below chart shows the support and resistance level of SNT. 

SNT/USDT Support and Resistance Level (Source: TradingView)

From the above chart, it is observed that the following are the resistance and support level of SNT.

  • Resistance Level 1 – $0.107
  • Resistance Level 2 – $0.305
  • Support Level 1 – $0.041
  • Support Level 2 – $0.019

The chart depicts the bearish performance of SNT over the previous month. However, this trend will continue to reach resistance level at $0.305 soon. On the contrary, if the trend reversed then SNT might fall to $0.019 presenting a bearish signal.

Status (SNT) Average Directional Index (ADX)

Let us now look at SNT’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

SNT/USDT ADX (Source:TradingView)

The above chart represents the ADX of SNT with the range at 41.55, so it indicates a strong trend.

Conclusion

The SNT is one of the cryptos which is great for long-term investment. In addition, SNT price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $0.68 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the SNT ecosystem, the performance of SNT would rise reaching $0.1 very soon. But, it might also reach $0.3 if the investors believe that SNT is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.