Market Overview for Synapse/USDC on 2026-01-14

Summary
• Synapse/USDC tested $0.0692 support and broke lower after 4:00 AM ET.
• Strong bearish momentum emerged after 2:15 AM ET, with price declining ~0.68%.
• Bollinger Bands tightened before 2:45 AM ET, followed by a sharp volatility expansion.
• Volume surged over 82,000 at 4:15 AM ET, confirming the breakdown below key support.
• RSI entered oversold territory around 6:45 AM ET, hinting at potential near-term bounce.

At 12:00 PM ET–1, Synapse/USDC (SYNUSDC) opened at $0.0693, reached a high of $0.0701, and a low of $0.0670 before closing at $0.0677 at 12:00 PM ET. Total 24-hour volume was 385,230.0 and turnover was $26,012.00.

Structure & Formations

Price formed a bearish breakout below $0.0692 support after a consolidation phase from 12:00–2:15 AM ET. The breakdown candle at 2:15 AM ET showed a strong bearish engulfing pattern, confirming the shift in sentiment. A key resistance at $0.0696 was tested multiple times but failed to hold, with price failing to retest it after 4:00 AM ET.

Moving Averages

On the 5-minute chart, price remained below the 20- and 50-period moving averages throughout the session, reinforcing bearish momentum. While the 50-period MA crossed below the 20-period MA, forming a death cross, no clear reversal in trend occurred over the 24-hour window.

MACD & RSI

The MACD turned bearish after 2:15 AM ET, with the histogram shrinking and the line crossing below the signal line. RSI hit oversold territory near 27 by 6:45 AM ET, suggesting short-term exhaustion. However, a sustained rebound above $0.0678 remains unlikely without a bullish signal from the MACD or RSI divergence.

Bollinger Bands

Volatility contracted between 2:45–3:00 AM ET, followed by a sharp expansion as price moved lower. Price closed the session near the lower band, indicating continued bearish pressure. A sustained move above the middle band would suggest a reversal attempt.

Volume & Turnover

Volume spiked to 82,000 at 4:15 AM ET, confirming the breakdown of $0.0692. Notional turnover surged in line with volume, with no divergence observed. The most recent spike occurred after 4:15 AM ET, aligning with the sharp move lower.

Fibonacci Retracements

On the 5-minute chart, the decline from $0.0699 to $0.0670 found support at the 61.8% level near $0.0682 before resuming the downward trend. The 50% level of the daily move appears to be near $0.0686, which could act as a short-term resistance on a bounce.

SYNUSDC may continue to test the oversold RSI level for a potential countertrend move in the next 24 hours. However, traders should remain cautious as a sustained bearish setup remains intact unless price reclaims $0.0692 with strong volume.