Market Overview: Synthetix/Tether (SNXUSDT) 24-Hour Technical Summary

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Wednesday, Jan 7, 2026 7:31 pm ET1min read
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Aime RobotAime Summary

- SNXUSDT surged to 0.555 before retreating to 0.498, forming a bearish engulfing pattern.

- RSI fell below 30 and MACD turned negative, confirming weakening bullish momentum.

- Bollinger Bands expanded with price closing near lower band, suggesting increased bearish bias.

- Key support levels at 0.506 (38.2%) and 0.496 (61.8%) identified for potential further declines.

Summary
• Price opened at 0.514 and surged to 0.555 before retreating to 0.498 by 12:00 ET.
• A bearish engulfing pattern emerged after the peak, signaling potential downward momentum.
• Volume spiked during the rally but declined sharply after 22:00 ET, indicating waning buying pressure.
• RSI fell below 30 in the final hours, hinting at oversold conditions, while MACD turned negative.
• Bollinger Bands expanded with the early move but price closed near the lower band, suggesting increased volatility and bearish bias.

Price and Volume Profile


Synthetix/Tether (SNXUSDT) opened at 0.514 on 2026-01-06 at 12:00 ET and reached a high of 0.555 at 22:00 ET before closing at 0.498 on 2026-01-07. Total 24-hour trading volume amounted to 7,516,618.4 units with a notional turnover of 3,684,124.5 USD.

Structure and Momentum


The candlestick structure suggests a volatile 24-hour period with a sharp rally driven by high-volume sessions between 21:30 and 22:30 ET, followed by a bearish reversal. A strong bearish engulfing pattern formed after the 0.555 high, indicating a shift in market sentiment.

The RSI has dipped below 30, signaling potential oversold conditions, while the MACD crossed into negative territory, confirming weakening bullish momentum.

Volatility and Fibonacci Levels


Bollinger Bands widened significantly during the early bullish phase, with price retreating into the lower band by the session’s close. This could indicate a continuation of downward movement unless buyers intervene.

Fibonacci retracement levels suggest key support near 0.506 (38.2%) and 0.496 (61.8%) from the recent high. A breakdown below 0.496 could trigger further testing of prior lows.

Volume and Turnover Dynamics


Volume spiked during the rally, with a peak of 625,522.5 units at 22:00 ET. However, turnover failed to confirm this strength during the final hours of the session, showing reduced buying interest as the price declined. This divergence suggests a weakening trend and may foreshadow a potential reversal.

Outlook and Risk Consideration


In the coming 24 hours,
SNXUSDT
may find near-term direction based on its reaction to the 0.506–0.513 support cluster. A failure to hold these levels could signal a deeper correction, with downside volatility increasing if key Fibonacci levels are breached. Investors should also monitor volume behavior for signs of trend exhaustion or reversal.