Market Overview for Synapse/USDC (SYNUSDC) on 2025-12-16

Summary
• Price tested key support at $0.0527 and bounced, forming a bullish engulfing pattern.
• Volume surged during the 18:45–19:00 ET period, confirming a short-term rebound.
• RSI signaled oversold conditions, hinting at potential for a 61.8% Fibonacci retest.

Synapse/USDC (SYNUSDC) opened at $0.0541 on 2025-12-15 at 12:00 ET, reached a high of $0.0541, and a low of $0.0523 before closing at $0.0541 on 2025-12-16 at 12:00 ET. Total volume was 49,249.2, with a notional turnover of $2,646.50.

Structure & Formations

Price found key support at $0.0527 and rebounded, forming a bullish engulfing pattern around 08:00–08:15 ET. A key resistance level appears to be forming near $0.0539, which was tested and held during the 22:00–22:15 ET session.

MACD & RSI

MACD remained in negative territory but showed a slight upward divergence, suggesting slowing bearish momentum. RSI bottomed near 30, signaling oversold conditions, and may encourage a corrective bounce toward 50.

Bollinger Bands

Volatility expanded during the 18:45–19:00 ET period, as price broke out of a narrow range and closed near the middle band. Price has since trended toward the upper band, with a potential for a retest of the 20-period 5-min SMA at $0.0537.

Volume & Turnover

Volume surged to 9,217.5 at 18:45 ET, coinciding with a sharp drop from $0.0529 to $0.0526, but reversed sharply with a bullish follow-through. Notional turnover increased in tandem, with no major price-turnover divergence observed.

Fibonacci Retracements

A 61.8% retracement level appears at $0.0536, which has shown initial resistance. A break above $0.0539 could target $0.0543 as the next Fibonacci target.

SYNUSDC appears to have found short-term stability after a deep pullback to $0.0527. A retest of the 50-period 5-min SMA and 61.8% Fibonacci level may precede a continuation. Investors should remain cautious of a potential consolidation or bearish reversal if volume wanes and price closes below $0.0532.