Synapse/USD Coin Market Overview

• Price surged from 0.1163 to 0.1217 on 24-hour high volume of 3556.4, indicating strong bullish momentum.
• Key resistance appears at 0.1217 after a bullish engulfing pattern and a 61.8% Fibonacci level.
• Volatility expanded as price moved outside upper Bollinger Bands, signaling heightened market participation.
• RSI indicates overbought conditions at 70, suggesting possible near-term correction.

The Synapse/USD Coin pair (SYNUSDC) opened at 0.1163 on 2025-09-04 at 12:00 ET and closed at 0.12 on 2025-09-05 at 12:00 ET, hitting a 24-hour high of 0.1217 and a low of 0.1152. Total volume amounted to 208,838.3, and notional turnover reached $25,012.34, reflecting elevated activity.

Structure & Formations

The price action displayed several key formations. A bullish engulfing pattern emerged around 2025-09-05 07:15, confirming a shift in sentiment. Resistance levels formed at 0.1217 and 0.1216, coinciding with 61.8% Fibonacci retracement levels and upper Bollinger Band expansion. Notably, a doji appeared at 0.1185, indicating indecision around that level. Price found strong support at 0.1161 after a bearish rejection, suggesting a key area for retests.

Moving Averages & Momentum

On the 15-minute chart, the 20-period moving average crossed above the 50-period line at 0.1185, signaling a bullish bias. Daily MA indicators showed the 50-period line at 0.1187 and 200-period at 0.1172, with price currently above both, indicating a strong uptrend. The MACD histogram turned positive after 2025-09-05 06:45, with momentum increasing as bullish divergence took hold. RSI surged to overbought territory at 70, hinting at a potential pullback.

Bollinger Bands & Volatility

Price broke above the upper Bollinger Band at 0.1216, signaling high volatility and a strong breakout. The bands expanded significantly from 0.1163 to 0.1217, confirming increased market activity. A contraction occurred briefly between 0.1177 and 0.1181, indicating a period of consolidation before the final breakout. Price currently sits at the upper edge of the bands, suggesting a continuation of the trend is possible.

Volume & Turnover

Volume spiked to 33,920.3 at 0.1216, confirming the breakout from resistance. This was accompanied by a notional turnover spike to $4,071.12, aligning with price action and suggesting strong conviction in the move. Divergence was observed between 0.1185 and 0.1199, where volume remained moderate but price rose, indicating potential exhaustion in the rally. However, the final 15-minute period closed with 48787.9 volume and $5,898.67 turnover, reinforcing bullish confirmation.

Fibonacci Retracements

Fibonacci levels proved significant in the recent rally, with the 61.8% level at 0.1217 aligning with a key resistance cluster. The 38.2% level at 0.1199 acted as support during a brief pullback. Daily swings from 0.1161 to 0.1217 suggest a strong upward trend, with the 78.6% retracement at 0.1211 forming a potential zone for consolidation or reversal. These levels remain key for near-term price action, with the 0.1161 level acting as a critical support base.

Backtest Hypothesis

A potential backtest strategy could be built on the combination of RSI overbought/oversold conditions and volume confirmation. For instance, a long position could be triggered when RSI falls below 30 (oversold) and volume surges above the 50-period moving average, with a stop-loss placed below the nearest support level. A short entry might occur when RSI crosses above 70 (overbought) and volume confirms a bearish divergence. The 20-period MA crossover and Bollinger Band breakouts could also be used as confirmation signals, offering a probabilistic edge in trending conditions. This strategy would aim to capture directional momentum while managing risk through defined exits.