Market Overview for Maple Finance/Tether (SYRUPUSDT)

Summary
• Price declined from 0.3207 to 0.3060 with a key support forming near 0.306.
• RSI and MACD indicate bearish momentum with no overbought conditions observed.
• Volatility expanded after 06:00 ET, matching a breakout to the downside.
• Volume spiked during the final 8 hours, confirming the bearish move.
• Bollinger Bands show price near the lower band, suggesting potential bounce or continuation.

Market Overview

Maple Finance/Tether (SYRUPUSDT) opened at 0.3207 on 2025-12-23 12:00 ET and closed at 0.3060 by 12:00 ET on 2025-12-24. The pair traded between 0.3207 and 0.3041 over the 24-hour period. Total volume amounted to 2,154,786.0, with a notional turnover of approximately $685,910.

Price Action and Structure

The 24-hour candlestick pattern displayed a bearish trend with multiple engulfing patterns forming during the early hours of the session, suggesting increasing selling pressure. A significant support level appears to be forming near 0.3060, reinforced by a bounce seen in the last 5-minute candle.

Momentum and Volatility

The RSI dipped into oversold territory at several points during the session, with a final reading near 30, indicating potential for a temporary bounce. MACD remained bearish for much of the session, with the line staying below the signal line. Bollinger Bands showed expansion after 06:00 ET, indicating increased volatility as the pair moved lower.

Volume and Turnover

Volume spiked during the final 8 hours of the session, particularly after 06:00 ET when the price broke below 0.3140. This volume increase confirmed the bearish breakout rather than showing signs of a reversal. Notional turnover aligned with volume increases, with no divergences observed.

Fibonacci Retracement Levels

SYRUPUSDT Trend Chart
On the 5-minute chart, key Fibonacci levels at 61.8% and 78.6% corresponded with price action during the decline. A 61.8% retracement level around 0.3070 appears to have acted as a short-term floor, with price finding further support at 0.3060.

The market appears to be in a bearish phase, with potential for a bounce near 0.3060. However, the next 24 hours could see a test of this level and a continuation of the downtrend if sellers remain dominant. Investors should monitor volume behavior and RSI for signs of a reversal or exhaustion.