Synthetix’s price will cause a squeeze when the buyback plan appears

The price of Synthetix rose slightly as the project released its roadmap for 2026, which includes the purchase of tokens and a new trading product.

At press time, the Synthetix token (SNX) was trading at $0.3251, up about 2.9% in the last 24 hours. The token remained in a narrow weekly range between $0.3008 and $0.3262.

Price movement has been slow but steady in recent weeks. SNX is up about 2% over the past seven days and about 20% over the past month as the market tries to recover from earlier losses.

Trade activity also increased slightly. The daily volume reached about 13.4 million dollars, which is 11% more than the previous day. CoinGlass derivatives data shows futures volume increased 10% to $41 million, while open interest increased 6% to $16.39 million.

Roadmap 2026 includes acquisition of SNX

The move comes after the Synthetix team released a lengthy update outlining how the protocol will grow throughout 2026.

According to the roadmap, trading proceeds from Synthetix Perps will initially be used to purchase both SNX and the sUSD stablecoin protocol. Once sUSD is fully recovered, buybacks are expected to focus entirely on SNX.

The plan also includes expanding trading features. In April, users will be able to deposit assets like ETH and cbBTC directly as margin on Synthetix Perps, rather than turning everything into a collateral asset.

The change could bring more liquidity to the platform and allow traders to tap into idle assets that already exist on Ethereum.

Another update is planned for the end of the year. The protocol plans to introduce major trading warehousing, launch a public liquidity fund, and expand markets beyond crypto to include commodities and forex trading.

The developers also outlined a long-term plan to turn sUSD into a fully decentralized stablecoin backed by a delta-hedged crypto-collateral.

The roadmap shows another step in the protocol’s restructuring. Over the past year, the project has moved away from multiple Layer-2 deployments and shifted its focus to the Ethereum mainnet, where it now runs perpetual futures exchanges in a centralized custom-order fashion.

Technical Analysis: SNX is forming a tight squeeze

On the chart, SNX is moving within a tight consolidation zone near $0.32-$0.33 after months of decline.

Volatility has eased over the past few weeks. Bollinger Bands began to narrow, which often precedes a stronger price move after a range break.

Resistance is now seen around $0.39-0.40, which is the level that the price rejected during previous rallies. Support remains low, around $0.27 – $0.30, where buyers entered during the February decline.

Momentum indicators show that selling pressure has eased. The relative strength index rose again to the 50 level, breaking out of the oversold zone seen earlier in the downtrend.

If SNX breaks above $0.39, a move could open the door to the $0.45-$0.50 range. This confirms the break from the compressed form.

On the downside, a break below $0.30 could weaken the structure and re-expose the $0.27 area, which has been a key support level in recent months.