Synapse/USDC Market Overview for September 15, 2025

• Price declined from 0.1345 to 0.1266, with strong selling pressure after 08:00 ET.
• Volume spiked sharply during the selloff but failed to confirm a rebound.
• RSI hit oversold levels by 10:00 ET, suggesting a potential near-term reversal.
• Bollinger Bands widened, reflecting high volatility during the price drop.
• Fibonacci retracement levels suggest potential support at 0.1260–0.1270.

SYNUSDC opened at 0.1302 on September 14 at 12:00 ET and closed at 0.1275 on September 15 at 12:00 ET, with a high of 0.1345 and a low of 0.1247. Total volume was 778,934.1, and total turnover was $102,166.13 over the 24-hour period. The price action was bearish for much of the session, with a sharp drop beginning around 08:15 ET.

Structure & Formations

The price of SYNUSDC broke below a key support level around 0.1300 in the early hours of September 15 and continued to trend lower. A strong bearish engulfing pattern formed around 08:15 ET (0.1299 to 0.1247) and signaled further downward pressure. A doji appeared at 08:45 ET (0.1267), suggesting some indecision, but selling pressure quickly resumed. A major support level appears to have formed near 0.1260–0.1270, based on multiple bounces and volume clustering.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both moved lower, indicating continued bearish momentum. On the daily chart, the price closed below all major moving averages (50, 100, 200), reinforcing the bearish trend. A cross below the 200-day MA would confirm a deeper structural bear phase.

MACD & RSI

The MACD remained in negative territory for much of the 24-hour window, confirming the bearish momentum. A bearish crossover occurred at 08:15 ET, coinciding with the sharp price drop. RSI hit oversold levels (below 30) by 10:00 ET and has remained near those levels, suggesting a potential short-term bounce. However, RSI divergence is weak; no strong reversal signal has emerged yet.

Bollinger Bands

Bollinger Bands significantly expanded during the selloff, reflecting increased volatility. The price broke well below the lower band around 08:15 ET, which often signals a potential mean reversion. However, the price has remained below the band floor for most of the session, indicating strong bearish conviction.

Volume & Turnover

Volume spiked sharply during the sell-off, with the largest 15-minute volume of the session (102,584.9) recorded at 08:15 ET. Turnover also surged during this period, confirming the strength of the bearish move. However, volume has declined significantly in the last 4 hours, suggesting decreasing conviction or exhaustion. No clear divergence between price and volume is evident yet, but lower volume during rallies may indicate weak follow-through buying.

Fibonacci Retracements

Applying Fibonacci to the major swing high (0.1345) and low (0.1247) shows key levels at 0.1319 (38.2%), 0.1296 (50%), and 0.1274 (61.8%). The current close of 0.1275 aligns closely with the 61.8% retracement level, suggesting this may offer short-term support. A break below 0.1270 could target the next level at 0.1260, a prior consolidation area.

Backtest Hypothesis

The bearish engulfing pattern and RSI oversold condition suggest a possible short-term rebound. A backtesting hypothesis could test a mean-reversion strategy: enter a long position if RSI crosses above 30 and price closes above the 61.8% Fibonacci level (0.1275), with a stop-loss at 0.1265. The target would be a move back toward the 38.2% level (0.1319). This approach aligns with the current technical indicators and may offer a favorable risk-reward ratio.