SYNUSDC Market Overview: Strong Momentum Amid Elevated Volatility

• Price surged to 0.1319 before retreating to 0.1309, closing +0.46% higher on 24 hours.
• Volatility spiked mid-day, with a 0.1319 high and 0.1287 low on 15-minute candles.
• Volume spiked during a late morning rally, with 291,699.3 USDC traded in the 13:30 ET candle.
• RSI shows mild overbought conditions at 63.8% Fibonacci level on rally.
• Bollinger Bands widen, indicating increasing market uncertainty and potential range expansion.

Synapse/USDC (SYNUSDC) opened at 0.1268 on 2025-09-15 12:00 ET and closed at 0.1309 at 2025-09-16 12:00 ET, reaching a high of 0.1319 and a low of 0.1287 during the 24-hour period. The total volume traded was 3,897,396.0, while the total notional turnover was $511,522.90. The pair has shown a pronounced upward bias and increased volatility, especially in the latter half of the day.

Structure & Formations

Price action displayed a strong bullish bias after 13:30 ET with a decisive break above key resistance at 0.1311 and a high of 0.1319. A bullish engulfing pattern formed at the 13:30 candle, signaling a shift in momentum. The pair then consolidated within a range between 0.1305 and 0.1319, indicating a potential consolidation before the next move. A doji at 14:45 ET suggests hesitation, but buying pressure reasserted itself afterward.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were below the current price, indicating bullish momentum. The price is well above both indicators, suggesting a continuation of the upward trend is likely. On the daily chart, price remains above the 50-period MA but below the 200-period, suggesting a longer-term mixed signal between bullish and bearish forces.

MACD & RSI

The MACD histogram turned positive and showed increasing bullish divergence, with a strong crossover above the signal line occurring in the afternoon. RSI reached 63.8% of the Fibonacci retracement level from the recent swing low, approaching overbought territory but not yet signaling exhaustion. This suggests continued buying interest, though a pullback could occur if RSI exceeds 70.

Bollinger Bands

Bollinger Bands widened significantly during the price spike to 0.1319, showing a sharp increase in volatility. The price closed near the upper band, indicating strong bullish pressure. However, the widening of the bands may also signal that a correction or consolidation phase could follow to stabilize the range.

Volume & Turnover

Volume spiked sharply at 13:30 ET with a 291,699.3 USDC turnover, aligning with the price break above key resistance. This confirms the strength of the move higher. Turnover remained elevated through 15:30 ET, with consistent volume supporting the consolidation phase. No major divergences were observed between price and volume, suggesting strong conviction behind the rally.

Fibonacci Retracements

Applying Fibonacci retracement to the recent 15-minute swing from 0.1287 to 0.1319, the 38.2% level is at 0.1304 and the 61.8% level is at 0.1295. The current close at 0.1309 is near the 38.2% level, suggesting a potential retest of this level or a continuation toward the 61.8% retracement. A break above 0.1319 could trigger a move toward 0.1334, based on the extension levels.

Backtest Hypothesis

Given the strong price action and volume confirmation observed, a potential backtesting strategy could involve a long entry at a close above the 0.1304 Fibonacci level with a stop loss placed below the 0.1295 level. A target could be set at the 61.8% retracement level (0.1295) and extended to 0.1334 if the trend persists. This aligns with the observed MACD divergence and RSI momentum, making it a viable hypothesis for a continuation-based strategy. The use of 15-minute and daily moving averages could also be integrated to confirm the trend direction and improve entry timing.