Synapse/USDC Market Overview: Bullish Reversal and Late Rally on 2025-09-21

• • •

• Price action shows a bullish reversal near 0.1304, with a final close near 0.1299 after testing lower support levels.
• Momentum waned in the early hours before a late rally, as RSI and volume suggest accumulation.
• Volatility expanded during the final 8 hours, with price breaking out above the 15-minute Bollinger Band midrange.
• No clear divergence between price and turnover is observed; volume remains relatively consistent with directional bias.
• A bullish engulfing pattern emerged near 0.1306–0.1303, indicating short-term buying pressure and a potential reversal setup.

At 12:00 ET–1 on 2025-09-20, Synapse/USDC (SYNUSDC) opened at 0.1315, reached a high of 0.1336, and a low of 0.1291 before closing at 0.1299 at 12:00 ET on 2025-09-21. Total traded volume amounted to 338,166.5, and notional turnover was $43,622.25. The 24-hour session saw moderate volatility, a bullish bias in the final 8 hours, and a retest of key support levels.

Structure & Formations

The 15-minute chart showed a notable bullish engulfing pattern near 0.1306–0.1303, signaling a short-term reversal as price bounced off support. A doji appeared at 0.1294, highlighting indecision around the psychological 0.1300 level. The most recent bearish candle at 0.1299–0.1303 suggests a retest of this level, with buyers stepping in to defend it. Key resistances are at 0.1310 and 0.1320, while strong support is observed near 0.1294 and 0.1291. A break above 0.1315 could indicate continuation of the upward bias.

Moving Averages

On the 15-minute timeframe, the 20-period MA (0.1307) and 50-period MA (0.1304) crossed in a “golden cross” pattern in the last 4 hours, indicating a short-term bullish bias. On the daily chart, the 50-period MA (0.1308) remains above the 100- and 200-period MAs, which are at 0.1306 and 0.1303 respectively, suggesting a stronger bullish trend is in place.

MACD & RSI

The MACD turned positive in the final 6 hours, with a rising histogram that aligns with the late rally. The RSI (14) reached 32 at its lowest point before rising to 55, suggesting the market is transitioning from oversold to neutral territory. While not overbought, the RSI’s climb implies that further upward movement may gain traction if buyers continue to push price above 0.1307.

Bollinger Bands

Volatility expanded significantly in the last 8 hours, with price reaching the upper band at 0.1336. The 15-minute Bollinger Band width increased from 0.0009 to 0.0011 during this period, indicating growing uncertainty and activity. Price closed near the midline of the band (0.1315), which may signal a potential consolidation phase or a retest of key support/resistance levels.

Volume & Turnover

The highest volume spike occurred at 06:15 ET with 59,021.5 traded, coinciding with a break above 0.1336. Turnover rose in tandem, suggesting strong conviction behind the move. Volume remained above average during the final 6 hours, reinforcing the bullish bias and confirming the price action. No significant divergence between price and turnover was observed, supporting the narrative of a coordinated buying effort.

Fibonacci Retracements

Applying Fibonacci retracements to the 0.1291 to 0.1336 swing, price found support at the 61.8% level (0.1313) before moving toward the 100% level (0.1336). A retest of the 61.8% and 78.6% levels is expected as price consolidates near 0.1308–0.1315. Further bullish momentum could see price testing the 127.2% extension at 0.1356, but a breakdown below 0.1300 would invalidate the current bias.

Backtest Hypothesis

The provided backtesting strategy focuses on a breakout and retracement-based approach, combining Fibonacci levels with volume and RSI signals to identify high-probability entry points. Given the current context, the 0.1300–0.1304 level acts as a critical psychological and Fibonacci support, which could serve as a buy zone if RSI remains above 35 and volume increases on the next upmove. A potential sell signal may emerge if price breaks above 0.1315 with a bullish divergence in RSI and strong volume confirmation. Traders could consider a trailing stop just below 0.1300 to manage risk while capturing potential follow-through buying.