Synthetix Network Token (SNX)

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Daily analysis of Synthetix Network Token (SNX) - 1 month

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 April 22nd, 2024 to May 17th, 2024.

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 04/22/2024 and 05/17/2024.

According to the performance of Synthetix Network Token between April 22nd, 2024 and May 17th, 2024, Synthetix Network Token performed the best on Saturdays. On average, the price of Synthetix Network Token increased 0.81% on Saturday.

The weekday on which the Synthetix Network Token performed the worst, is Tuesday. On Tuesdays, the Synthetix Network Token declined in value on average by -2.16%.

Synthetix Network Token weekday performance

Synthetix Network Token increased in value on an average Sunday only slightly. The average increase in value of the Synthetix Network Token was 0.08%. 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 (0.14%). This means that on 68 percent of the Sundays, the change in price of the Synthetix Network Token is expected to be in the range of -0.06% and 0.22%.

Allthough the Synthetix Network Token decreases in value with -0.42% on an average Monday, the uncertainty of this decline is large. The standard deviation of the change of Synthetix Network Token on Mondays is 0.73%. This means that the expected change of the value of Synthetix Network Token is between -1.16% and 0.31% on 68 out of 100 Mondays.

The Synthetix Network Token declines in value on an average Tuesday with -2.16%. However, the uncertainty (or standard deviation) is quite large, namely 3.69%. This means that it is not possible to say whether on a regular Tuesday the Synthetix Network Token will increase or decrease in value.

It is hard to tell whether the Synthetix Network Token will increase or decrease in value on an average Wednesday. The average change on a Wednesday for the Synthetix Network Token is -0.05%. However, the standard deviation on this weekday is 0.10%. This means that on most Wednesdays, the change in value of the Synthetix Network Token is between -0.15% and 0.04%.

Synthetix Network Token increased in value on an average Thursday only slightly. The average increase in value of the Synthetix Network Token was 0.01%. 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 (0.02%). This means that on 68 percent of the Thursdays, the change in price of the Synthetix Network Token is expected to be in the range of -0.01% and 0.03%.

On Fridays, the Synthetix Network Token decreases in value on average with -0.71%. On most of the Fridays the Synthetix Network Token decreases in value between -1.94% and 0.52%. The uncertainty (1.23%) is higher than the average decline percentage (-0.71%). Therefore, expected range of price changes of the Synthetix Network Token on Fridays is large.

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 0.81%. However, the uncertainty of this increase is high. The expected change in value of the Synthetix Network Token on a Saturday is between -0.31% and 1.94% (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 0.08% 0.14% -0.06% to 0.22%
Monday -0.42% 0.73% -1.16% to 0.31%
Tuesday -2.16% 3.69% -5.85% to 1.53%
Wednesday -0.05% 0.10% -0.15% to 0.04%
Thursday 0.01% 0.02% -0.01% to 0.03%
Friday -0.71% 1.23% -1.94% to 0.52%
Saturday 0.81% 1.12% -0.31% to 1.94%
 

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