Synapse/USDC Market Overview (SYNUSDC)

• Price action saw a bearish reversal from 0.1154 to 0.1143 before a late-day rally to 0.1160
• RSI suggests overbought conditions near 80, hinting at potential exhaustion in the rally
• Volatility expanded after 08:00 ET, driven by higher volume and large bullish candle bodies
• Bollinger Bands widened, showing increased price swings with a mid-band crossover at 0.1151
• A strong 15-minute bullish breakout above 0.1153 may offer short-term upside continuation signals

SYNUSDC opened at 0.1127 on 2025-09-23 at 12:00 ET, touched a high of 0.1160, a low of 0.1100, and closed at 0.1151 on 2025-09-24 at 12:00 ET. Total 24-hour volume was 719,957.1, with a notional turnover of $79,004.50. Price action showed a late-day rally amid elevated volatility and volume spikes.

Structure & Formations

The 24-hour candlestick pattern revealed a strong bearish reversal and a subsequent bullish breakout. Key support levels emerged around 0.1122–0.1135, with resistance forming at 0.1143–0.1153. A bullish engulfing pattern appeared around 08:00–09:00 ET following a consolidation phase. A bearish harami was visible between 04:00 and 04:15 ET, suggesting short-term indecision. A key breakout above 0.1153 was confirmed with high volume, signaling potential continuation of the bullish trend.

Moving Averages

On the 15-minute chart, price tested the 20-period and 50-period moving averages multiple times, with a bullish crossover occurring at 08:00–09:00 ET. On the daily chart, the 50-period and 200-period moving averages are in a bullish alignment, supporting the continuation of the uptrend. A 100-period MA is currently intersecting the 50-period, indicating potential convergence.

MACD & RSI

The MACD crossed above the signal line at 07:30–08:00 ET, confirming bullish momentum. RSI reached overbought territory (above 80) near the end of the 24-hour period, suggesting potential for a short-term pullback. However, the divergence between MACD and RSI suggests the bullish trend is still intact and may extend further into the next cycle.

Bollinger Bands

Bollinger Bands expanded significantly after 08:00 ET due to increased volatility. Price action moved above the mid-band and approached the upper band, indicating strong bullish momentum. A contraction phase occurred between 04:00 and 07:00 ET, suggesting a buildup of potential energy for the subsequent breakout.

Volume & Turnover

Volume spiked during the late morning and early afternoon hours, confirming the price breakout from 0.1143 to 0.1160. Notional turnover also increased, aligning with the volume surge. Divergences between price and turnover were not observed during the key bullish move, suggesting strong conviction in the rally. The lowest volume period was between 02:00 and 05:00 ET, coinciding with a consolidation phase.

Fibonacci Retracements

Fibonacci levels applied to the key swing from 0.1100 to 0.1160 showed 0.1143 at 61.8% and 0.1151 at 78.6%, which were tested as strong support/resistance. A 15-minute swing from 0.1141 to 0.1160 was retraced to 0.1153 (38.2%), which acted as a continuation level. The 0.1135–0.1143 range provided intermediate support during the consolidation phase.

Backtest Hypothesis

Applying a 15-minute breakout strategy based on the observed price action could yield profitable entries. A long signal is triggered when price closes above the 0.1153 Fibonacci level with high volume and MACD confirmation. A stop-loss is placed below 0.1143, and a target is set at 0.1160 or the upper Bollinger Band. This strategy would have captured the late-day rally with strong risk-reward balance. The key entry levels are aligned with both moving averages and Fibonacci retracements, offering a high-probability trade setup.