Synapse/USDC Market Overview for 2025-09-22

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• Synapse/USDC declined sharply overnight, printing a bearish 6.7% close below the 15-minute 50-period EMA.
• RSI(14) entered oversold territory at 28, suggesting potential near-term support.
• Volatility spiked after 06:15 ET with a 43% drop in price and a 255k USDC notional turnover.
• Bollinger Bands widened post 12:00 ET, signaling a breakout or continuation in either direction.
• Volume distribution skewed heavily toward the selloff, with no significant bullish confirmation.

Synapse/USDC (SYNUSDC) opened at 0.1299 on 2025-09-21 at 12:00 ET and closed at 0.1127 on 2025-09-22 at the same time. The 24-hour period saw a low of 0.1104 and a high of 0.1347. Total volume was 583,665.5 units, with a notional turnover of $63,397.40.

The price formation over the 24-hour period was bearish, marked by a sharp selloff beginning after 06:15 ET. This period saw a 43% move down from 0.121 to 0.1104. The structure shows a breakdown from a key 15-minute swing high at 0.1347 to a low of 0.1104. A large bearish engulfing candle at 06:15 ET confirmed the shift in momentum. Support appears to be forming around 0.1104, though this level may break if the selloff continues.

The 15-minute EMA(20) and EMA(50) crossed below the price during the selloff, confirming the bearish bias. The RSI(14) dropped below 30, indicating oversold conditions, and the MACD turned negative, signaling fading momentum. Bollinger Bands expanded significantly after 06:15 ET, reflecting increased volatility and potential continuation in the downward direction. The price has been trading near the lower band since, suggesting a possible bounce or further decline depending on volume and order flow.

Fibonacci retracements drawn from the 0.1347 high to the 0.1104 low show key levels at 0.1224 (38.2%) and 0.1165 (61.8%). These could act as potential support levels for a short-term reversal or as resistance if the selloff accelerates. The volume profile supports the breakdown, with no meaningful bullish confirmation observed.

Looking ahead, Synapse/USDC may test the 0.1104 low for a potential bounce or continue lower if bearish momentum holds. Investors should watch for a breakout above 0.1165 for a reversal signal or a break below 0.1104 for further downside risk. Volatility remains high, and sharp intraday swings are likely.