Synthetix Network Token (SNX)

Current price: $ 19.22

24 hours price change: $ 2.36 (14.00%)

Daily analysis of Synthetix Network Token (SNX) - 6 months

The performance of Synthetix Network Token regarding the price differs every day. To make the best decision to buy Synthetix Network Token, we are analysis in this article the performance of Synthetix Network Token on the different weekdays. The amounts for this analysis are in USD ($). The analysis is performed on the last 6 months, starting on November 12th, 2020 to May 12th, 2021.

In the barchart below, the weekdays and average performance of Synthetix Network Token are shown side by side.

Average daily change in price of Synthetix Network Token per weekday between 11/12/2020 and 05/12/2021.

According to the performance of Synthetix Network Token between November 12th, 2020 and May 12th, 2021, Synthetix Network Token performed the best on Thursdays. On average, the price of Synthetix Network Token increased 1.39% on Thursday.

The weekday on which the Synthetix Network Token performed the worst, is Wednesday. On Wednesdays, the Synthetix Network Token declined in value on average by -1.15%.

Synthetix Network Token weekday performance

Allthough the Synthetix Network Token decreases in value with -0.55% on an average Sunday, the uncertainty of this decline is large. The standard deviation of the change of Synthetix Network Token on Sundays is 3.26%. This means that the expected change of the value of Synthetix Network Token is between -3.81% and 2.71% on 68 out of 100 Sundays.

Synthetix Network Token increased in value on an average Monday only slightly. The average increase in value of the Synthetix Network Token was 0.10%. Allthough the Synthetix Network Token closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (5.19%). This means that on 68 percent of the Mondays, the change in price of the Synthetix Network Token is expected to be in the range of -5.09% and 5.29%.

Synthetix Network Token increased in value on an average Tuesday only slightly. The average increase in value of the Synthetix Network Token was 0.27%. Allthough the Synthetix Network Token closed a little higher very day compared to the opening, the variability of this result is high, as shown by the standard deviation (3.44%). This means that on 68 percent of the Tuesdays, the change in price of the Synthetix Network Token is expected to be in the range of -3.17% and 3.72%.

The Synthetix Network Token declines in value on an average Wednesday with -1.15%. However, the uncertainty (or standard deviation) is quite large, namely 5.06%. This means that it is not possible to say whether on a regular Wednesday the Synthetix Network Token will increase or decrease in value.

On an average Thursday the Synthetix Network Token shows an increase in value of 1.39%. However, the change of Synthetix Network Token on most of the Thursdays is between -2.66% and 5.44%. Therefore it is hard to tell whether an average Thursday is a good day to start buying Synthetix Network Tokens.

On an average Friday, the Synthetix Network Token increased 0.51%. However, since the expected deviation is 2.73%, the Synthetix Network Token will decline in value on a Friday quiet regularly. The expected price change of the Synthetix Network Token on a Friday is between -2.22% and 3.24%.

Historical performance on Saturday do not show an increase in value of the Synthetix Network Token on which a prediction can be made. The Synthetix Network Token increased in value on average on an average Saturday with 0.82%. However, the uncertainty of this increase is high. The expected change in value of the Synthetix Network Token on a Saturday is between -3.45% and 5.08% (see also the table below).

Synthetix Network Token weekday performance details

Find below the details of the performance of Synthetix Network Token per day of the week. Both the average change in percentage and the standard deviation. The higher the standard deviation is, the higher the variation within the range of average change. Therefore, the 68% range has been added, which represents the change in price on 68% of the days.

Weekday Average change (%) Standard deviation (%) 68% range
Sunday -0.55% 3.26% -3.81% to 2.71%
Monday 0.10% 5.19% -5.09% to 5.29%
Tuesday 0.27% 3.44% -3.17% to 3.72%
Wednesday -1.15% 5.06% -6.21% to 3.91%
Thursday 1.39% 4.05% -2.66% to 5.44%
Friday 0.51% 2.73% -2.22% to 3.24%
Saturday 0.82% 4.26% -3.45% to 5.08%
 

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