The Synthetix Network Token (SNX) has been killing it this year: it is already 10% up in the last 24h after a slight decline during the bloody Friday, reaching staggering 40% gains in the week. Now SNX has been having difficulty to break through the level of $1.20, forming an ascending triangle:
Ascending triangle in the weekly SNX/USD chart (since SNX is not being traded in big centralized exchanges yet, we don't have a decent feed in TradingView)
This is a bullish pattern, representing a continuation of a bullish trend, as long as there is a previous trend in place. And in this case, the trend is pretty clear:
Rising trend in the SNX/USD monthly chart
Moreover, since SNX is a Ethereum token and mostly traded via Uniswap, probably from ETH or some ERC20 token, it seems to be a good trade-off at the moment to hold SNX instead of ETH, as the price of SNX against ETH has been increasing dramatically, especially after the recent dump in ETH price:
SNX/ETH monthly chart (red line)
Notice also the rise in volume in the last weeks.
As always, this is not financial advice, please do your own research.