Synapse/USDC Market Overview for 2025-09-14

• Price surged from $0.1283 to $0.1439, followed by a sharp pullback to $0.1299 in 24 hours
• RSI oversold at $0.1283 and overbought at $0.1439, showing strong momentum swings
• Volatility spiked with a high of $0.1439 and a low of $0.1283, indicating aggressive trading
• Bollinger Bands widened during the rally and contracted during the consolidation phase
• Large-volume candle at $0.1433 marked the peak of the bullish breakout attempt

At 12:00 ET–1, Synapse/USDC (SYNUSDC) opened at $0.1346, with a 24-hour high of $0.1439 and a low of $0.1283, closing at $0.1299 by 12:00 ET. Total volume for the 24-hour period was 4,946,654.3 with a notional turnover of approximately $668,911.30.

Structure & Formations

SYNUSDC formed a bullish engulfing pattern at $0.1382–$0.1397 before a large-volume candle at $0.1433 confirmed a short-term top. A bearish hammer formed at $0.1365 followed by a doji at $0.1366, signaling indecision and bearish exhaustion. Key support levels are emerging at $0.1322, $0.1305, and $0.1283, with $0.1283 acting as a recent floor. A critical resistance at $0.1351 has been retested multiple times and appears to be holding.

Moving Averages

On the 15-minute chart, the 20-period and 50-period EMA crossed above the price at $0.136–$0.137, supporting the bullish breakout. The 50-period EMA is now re-crossing below the 20-period, suggesting bearish momentum. On the daily chart, the 50-period EMA at $0.1355, the 100-period at $0.137, and the 200-period at $0.139 all align in a bearish sequence, indicating long-term bearish bias.

MACD & RSI

MACD showed a bearish crossover at $0.1365 with a negative histogram, confirming bearish momentum. RSI dropped below 30 at $0.1283, indicating oversold conditions, but failed to rebound strongly, suggesting a lack of conviction in the bullish case. RSI peaked at 75 during the $0.1439 high, signaling overbought conditions and a likely retracement.

Bollinger Bands

Bollinger Bands widened during the $0.136–$0.1439 rally, with price touching the upper band at $0.1433, signaling high volatility. A contraction followed between $0.1322–$0.1352, forming a bearish consolidation. Price is now trading near the lower band at $0.1283–$0.1299, suggesting potential for a short-term bounce or retesting of key support.

Volume & Turnover

Volume surged at $0.1433 with 271,910.7 traded, confirming a bearish reversal. Turnover spiked alongside the price peak, indicating aggressive selling. A volume divergence appeared at $0.1363, where volume increased while price decreased, hinting at bearish exhaustion.

Fibonacci Retracements

On the 15-minute chart, the 61.8% retracement level at $0.1349 acted as a key resistance. The 38.2% level at $0.1325 provided temporary support during the pullback. On the daily chart, the 61.8% retracement at $0.1355 and 50% level at $0.137 are critical for monitoring further directional bias.

Backtest Hypothesis

A potential backtest strategy could involve entering short positions at key Fibonacci levels like $0.1355 and $0.137, with stop-losses above $0.139, while targeting retests of $0.1322 and $0.1283. A long setup could be triggered at the 61.8% retracement level $0.1349, with exits near $0.1363–$0.1367 based on RSI and MACD divergence.