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Summary
• Price surged from 0.01953 to 0.02018 before retracting to 0.01994, forming a potential bearish reversal top.
• RSI overbought condition and expanding Bollinger Bands suggest heightened volatility and potential pullback.
• Volume spiked near the high, showing strength in the upmove but trailing volume suggests waning conviction.
Syscoin/Tether (SYSUSDT) opened at 0.01953 at 12:00 ET-1 and reached a high of 0.02018 before closing at 0.01994 at 12:00 ET, with a low of 0.01892. Total volume was 1.96 million contracts, and notional turnover was $38,685 across the 24-hour period.
Structure & Formations
The 24-hour chart shows a distinct bullish impulse followed by a bearish correction, forming a potential top reversal pattern. A bearish engulfing candle appeared near the 0.02018 high, signaling weakening momentum. Key support levels are forming near 0.0199 and 0.0197, with a potential breakdown risk if 0.0195 is breached.
Technical Indicators
MACD crossed into negative territory as bearish momentum accelerated after the 0.02018 peak. RSI hit overbought levels above 70 but pulled back, indicating possible exhaustion in the upleg.

Volume and Turnover
Volume spiked sharply around the 0.02018 high, confirming the strength of the bullish move. However, trailing volume has declined, suggesting weakening follow-through. Notional turnover has remained uneven, with a divergence between price and volume in the final hours.
Fibonacci Retracements
The recent upmove from 0.01892 to 0.02018 sees the price currently testing the 61.8% retracement level at 0.01975. A break below this could target the 78.6% level at 0.0193, while a rebound above 0.02001 may offer a potential retest of the high.
In the next 24 hours, SYSUSDT could consolidate around key support and resistance levels or break decisively in one direction based on follow-through volume and order flow. Traders should be cautious of the bearish divergence in momentum indicators and prepare for potential volatility.
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