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 1 month, starting on November 1st, 2023 to December 1st, 2023.
In the barchart below, the weekdays and average performance of Synthetix Network Token are shown side by side.
According to the performance of Synthetix Network Token between November 1st, 2023 and December 1st, 2023, Synthetix Network Token performed the best on Thursdays. On average, the price of Synthetix Network Token increased 1.64% on Thursday.
The weekday on which the Synthetix Network Token performed the worst, is Sunday. On Sundays, the Synthetix Network Token declined in value on average by -1.30%.
Synthetix Network Token weekday performance
The Synthetix Network Token declines in value on an average Sunday with -1.30%. However, the uncertainty (or standard deviation) is quite large, namely 0.90%. This means that it is not possible to say whether on a regular Sunday the Synthetix Network Token will increase or decrease in value.
The expected range of change of the Synthetix Network Token for an average Monday is between 0.20% and 1.71%. This is the result of an average increase in value of 0.96% and a standard deviation of %STANDARD_DEVIATION%}. This expected increase of value is calculated over the last 1 month.
Allthough the Synthetix Network Token decreases in value with -0.46% on an average Tuesday, the uncertainty of this decline is large. The standard deviation of the change of Synthetix Network Token on Tuesdays is 0.82%. This means that the expected change of the value of Synthetix Network Token is between -1.27% and 0.36% on 68 out of 100 Tuesdays.
Historical performance on Wednesday 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 Wednesday with 0.86%. However, the uncertainty of this increase is high. The expected change in value of the Synthetix Network Token on a Wednesday is between -0.75% and 2.48% (see also the table below).
On an average Thursday the Synthetix Network Token shows an increase in value of 1.64%. However, the change of Synthetix Network Token on most of the Thursdays is between -0.32% and 3.60%. Therefore it is hard to tell whether an average Thursday is a good day to start buying Synthetix Network Tokens.
Synthetix Network Token increased in value on an average Friday only slightly. The average increase in value of the Synthetix Network Token was 0.02%. 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 (1.59%). This means that on 68 percent of the Fridays, the change in price of the Synthetix Network Token is expected to be in the range of -1.57% and 1.60%.
On Saturdays, the Synthetix Network Token decreases in value on average with -0.60%. On most of the Saturdays the Synthetix Network Token decreases in value between -1.03% and -0.17%. The uncertainty (0.43%) is higher than the average decline percentage (-0.60%). Therefore, expected range of price changes of the Synthetix Network Token on Saturdays is large.
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||-1.30%||0.90%||-2.20% to -0.41%|
|Monday||0.96%||0.76%||0.20% to 1.71%|
|Tuesday||-0.46%||0.82%||-1.27% to 0.36%|
|Wednesday||0.86%||1.62%||-0.75% to 2.48%|
|Thursday||1.64%||1.96%||-0.32% to 3.60%|
|Friday||0.02%||1.59%||-1.57% to 1.60%|
|Saturday||-0.60%||0.43%||-1.03% to -0.17%|