SYNUSDC Market Overview for 2025-10-14

• Price surged from $0.0875 to $0.0906 before consolidating below $0.091.
• Volatility and volume spiked during the 19:00–20:00 ET window with a strong bullish bias.
• RSI overbought above 60, suggesting potential pullback, while MACD remained bullish.
• Bollinger Bands showed a recent contraction before a sharp move out of the upper band.
• Fibonacci levels at $0.0903 (61.8%) and $0.0915 (127.2%) may guide next directional bias.

At 12:00 ET on 2025-10-14, Synapse/USDC (SYNUSDC) opened at $0.0875, reached a high of $0.0917, and closed at $0.0835. The 24-hour volume totaled 3,193,208.1 units, with a notional turnover of $263,723.40 in USDC terms. The price action displayed a sharp bullish reversal during the early evening hours, followed by a consolidation phase under key resistance.

Structure & Formations

The candlestick pattern over the 18:45–19:00 ET window formed a strong Bullish Breakaway pattern, suggesting a clear shift in momentum. Resistance at $0.0906–$0.0912 held firm during the late afternoon, while support levels at $0.0895–$0.0899 were tested twice in the early morning. A Bearish Engulfing pattern emerged at 05:00–05:15 ET, confirming a reversal from a bullish to a bearish phase. This pattern may suggest a continuation of the downward trend unless a retest and rejection occur at $0.0895.

Moving Averages & MACD

On the 15-minute chart, the price traded above the 20-period SMA during the 18:00–20:00 ET window, reinforcing the bullish momentum. The 50-period SMA lagged behind, signaling a potential for a pullback. The MACD line crossed above the signal line at 19:00 ET, indicating a shift in momentum. However, the divergence in the MACD histogram during the 03:00–04:00 ET window suggested weakening bullish strength.

Volatility & Fibonacci Levels

Bollinger Bands widened significantly after the 18:45 ET candle, confirming a breakout from a tight consolidation. The price closed just above the 61.8% Fibonacci retracement level of the 18:45–20:00 ET swing, suggesting a possible retest of this level before further upside. The 127.2% extension at $0.0915–0.0917 may act as a near-term resistance.

Backtest Hypothesis

To evaluate the potential profitability of Bullish Engulfing patterns in the SYNUSDC pair, a backtest could be designed as follows:
- Identify every Bullish Engulfing pattern in the provided 15-minute OHLCV dataset since 2022.
- Buy at the next open after the pattern is confirmed.
- Hold for 3 trading days, then exit.
- Calculate the average return, win rate, and maximum drawdown for the strategy.
Given the recent occurrence of a Bearish Engulfing pattern, a complementary backtest using this bearish counterpart could also be conducted. This approach could help validate whether these candlestick patterns have predictive power in the SYNUSDC pair’s volatility-driven market structure.