Market Overview for Synapse/USDC (SYNUSDC) on 2026-01-08

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Thursday, Jan 8, 2026 7:37 am ET1min read
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Aime RobotAime Summary

- SYNUSDC formed a bullish engulfing pattern at 0.0587 after a selloff, with RSI rebounding from oversold levels.

- Bollinger Bands widened as volatility surged, with price hitting the upper band at 0.0603 amid heightened uncertainty.

- Elevated volume at key resistance (0.06/0.0601) and Fibonacci support at 0.0589 (61.8% retracement) highlighted critical price dynamics.

- The pair stabilized above 0.0587, potentially targeting 0.0605-0.0610, but risks renewed declines if below 0.0585.

Summary
• Price formed a bullish engulfing pattern at 0.0587 after a strong selloff.
• RSI bottomed near oversold territory, suggesting potential buying interest.
• Volatility surged during the final 3 hours of the period.
• Bollinger Bands expanded, reflecting heightened market uncertainty.
• Volume remained elevated around key resistance levels at 0.06 and 0.0601.

Synapse/USDC (SYNUSDC) opened at 0.0598, reached a high of 0.0603, a low of 0.0576, and closed at 0.0601 as of 12:00 ET. Total volume was 78,382.5 units, and notional turnover was $4,692.93.

Structure and Patterns


Price action on the 5-minute chart showed a key bullish engulfing pattern forming at 0.0587, following a sharp decline. This reversal formation suggests temporary buying pressure. A doji formed at 0.0592 during the night, indicating indecision near this minor support. The pair found a floor around 0.0576, where a large volume candle absorbed downward pressure.

Technical Indicators


RSI bottomed near 30 in the early morning, then rebounded sharply toward the midband, indicating a shift in momentum. MACD crossed into positive territory in the last 4 hours, signaling rising bullish bias. 20-period and 50-period moving averages on the 5-minute chart remained in a near-horizontal alignment, suggesting no strong directional bias from trend-following systems.

Volatility and Bollinger Bands


Bollinger Bands widened in the early morning session, with price reaching the upper band at 0.0603. This expansion suggests an increase in volatility and uncertainty. Price remained within the bands for most of the day, with minor excursions indicating temporary strength.

Volume and Turnover


Volume spiked in the 07:15–08:30 ET window, coinciding with the pair’s recovery from 0.0576 to 0.0593. Notional turnover also increased during this time, indicating strong order flow. A divergence appeared in the early morning between price and volume, as a large volume candle failed to push price higher.

Fibonacci Retracements


Applying Fibonacci to the 0.0576 to 0.0603 swing, price found support at the 61.8% level (0.0589), which aligned with an earlier consolidation area. The 0.06 level acted as a dynamic resistance, with a retest and breakout observed after 05:45 ET.

The pair appears to have stabilized above key support at 0.0587 and may test the 0.0605–0.0610 range in the next 24 hours. A breakdown below 0.0585 could trigger renewed bearish momentum. Investors should monitor the 0.06 level for potential retests.