Market Overview: Synapse (SYNUSDT) 24-Hour Technical Summary

• Synapse (SYNUSDT) surged over 60% from 0.1428 to 0.2127 before retracing to 0.1812.
• Strong volume spikes confirmed bullish and bearish breakouts during the day.
• Price formed a bearish engulfing pattern after the 0.2127 high, suggesting exhaustion.
• RSI showed overbought conditions during the peak, followed by a sharp bearish divergence.
• Volatility expanded significantly in the first half of the day, then contracted into consolidation.

Synapse (SYNUSDT) opened at 0.1428 on 2025-07-22 at 12:00 ET, surged to a high of 0.2127, and closed at 0.1812 on 2025-07-23 at 12:00 ET. Total 24-hour volume reached 59,466,474.2 units, with a notional turnover of approximately $10,908,649 (based on average price).

Structure & Formations

The price action formed a distinct bullish breakout above 0.173, followed by a sharp bearish reversal after hitting 0.2127. A bearish engulfing pattern emerged post-peak, signaling potential exhaustion in the upward move. Key support levels were identified at 0.1812, 0.176, and 0.170, while resistance appears to be forming at 0.190, 0.195, and 0.202.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both crossed above 0.173, confirming the initial bullish breakout. However, by the end of the 24-hour period, the 50-period line had crossed below the 20-period line, forming a potential death cross. On the daily chart, the 50-period and 200-period lines remain in a bullish alignment, suggesting a longer-term bullish trend remains intact.

MACD & RSI

The MACD showed a strong bullish divergence during the morning hours, with the histogram expanding as the price surged to 0.2127. However, as the price corrected, the MACD line turned negative, confirming bearish momentum. The RSI reached overbought levels above 70 during the peak, then sharply dropped below 50, indicating a bearish exhaustion. A bearish divergence between price and RSI suggests further downside could be in play.

Bollinger Bands

Volatility expanded significantly during the initial surge, with the upper band reaching 0.2127 and the lower band near 0.1428. Price then retracted and has since consolidated within a tighter range, suggesting a period of consolidation. The current price of 0.1812 sits near the middle band, indicating a neutral zone with potential for a breakout in either direction.

Volume & Turnover

Volume spiked during the morning hours as the price surged to 0.2127, with a 15-minute candle at 19:30 ET showing a volume of 13,043,619.3 units. This was followed by a smaller but still significant volume spike during the bearish correction. Notional turnover peaked at the same time as the price high, confirming the strength of the move. However, volume has since decreased, indicating reduced conviction in the current price direction.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.1428–0.2127 move, the 61.8% level at 0.1875 and the 50% level at 0.1777 have acted as key resistance and support levels. The price currently sits just below the 61.8% retracement level at 0.1875, suggesting it may test this area again in the next 24 hours.

SYNUSDT could continue its consolidation pattern or break out in either direction, depending on upcoming volume and sentiment. Investors should monitor the 0.1812 support level and 0.1875 resistance level closely for potential breakout signals. A break below 0.176 could signal renewed bearish momentum, while a retest of 0.2127 may require strong volume confirmation.