SYNUSDC Market Overview: 24-Hour Technical Breakdown

• Price fell 1.41% over 24 hours, closing at $0.1144 with a 15-minute low at $0.1134
• High volatility seen in early AM ET dip, with 1.3% intraday drop
• RSI(14) suggests oversold conditions after sharp decline
• Volume surged in late afternoon, confirming bearish momentum
• No clear bullish reversal patterns formed, but support appears near $0.1144

The Synapse/USDC pair (SYNUSDC) opened at $0.1202 on 2025-10-03 at 12:00 ET, peaking at $0.1216 before declining to a 15-minute low of $0.1134. The 24-hour session closed at $0.1144, down 1.41%. Total trading volume reached 497,493.3 units with a notional turnover of $58,939.09, indicating heightened market activity and bearish conviction in the latter half of the session.

Structure & Formations

Price formed a strong bearish bias after 3:45 AM ET, as a long-legged doji appeared at $0.1197, followed by a confirmation bearish candle at $0.1184. Further bearish structure was reinforced between 5:45 AM and 7:30 AM ET, where price declined from $0.119 to $0.1171 in two strong bearish bars. A key support level appears to form around $0.1144–$0.1167, with Fibonacci retracement levels at 61.8% (0.1145) and 38.2% (0.1171) aligning with recent support. A potential short-term rebound may be tested against the $0.1171–0.1173 level, while resistance looms at $0.118–$0.1182.

Moving Averages

On the 15-minute chart, price fell below both the 20-period and 50-period moving averages after 4:30 AM ET, indicating bearish momentum. The 50-period MA has acted as a short-term resistance at around $0.117–0.1172, while the 100-period and 200-period daily moving averages are estimated to be at $0.1182 and $0.1192 respectively, suggesting a broader bearish trend that may consolidate further near the 61.8% Fibonacci level.

MACD & RSI

The RSI(14) dropped into oversold territory at 28.4 during the 3:45 AM ET candle, hinting at a potential short-term rebound. However, bearish momentum persisted, with the MACD line remaining below the signal line and both declining as the bearish trend extended. A potential bounce from $0.1144 could see RSI testing the 30–35 range again, which may be a limited indicator of exhaustion rather than reversal.

Bollinger Bands

Bollinger Bands showed increasing volatility between 4:00 AM and 5:45 AM ET, with price breaking below the lower band at $0.1184 and reaching $0.1167–$0.1171. This expansion in the bands confirmed heightened bearish momentum. The upper band sits at $0.1183–$0.1185 and appears to be a key near-term resistance level. Price currently sits at the lower band, suggesting a high probability of either consolidation or further bearish pressure in the near term.

Volume & Turnover

Volume spiked at key bearish points, especially between 4:30 AM and 5:45 AM ET, confirming the strength of the downward trend. Turnover increased proportionally, with the largest 15-minute turnover occurring at 5:45 AM ET ($3,121.54). Price and turnover aligned bearishly, with no divergence seen in the late morning. A potential short-term rebound may see volume dipping as bears consolidate, but a sustained move above $0.1182 would need to come with increased volume to confirm bullish momentum.

Fibonacci Retracements

Applying Fibonacci to the most recent 15-minute swing from $0.119 to $0.1167, the 61.8% level is at $0.1171–$0.1173, which appears to be a short-term support. The 38.2% level is at $0.1181–$0.1182 and serves as immediate resistance. On the daily chart, the key Fibonacci support is at $0.1144–$0.1145, and a break below that could see a test of the 78.6% level at $0.1134–$0.1135, which appears to be a critical floor for the next 24 hours.

Backtest Hypothesis

Given the alignment of Fibonacci support and RSI oversold readings, a potential short-term bounce into the $0.1167–$0.1173 range appears probable. A backtest strategy could involve entering long at 0.1167 with a stop-loss at 0.115 and a take-profit at 0.1178–0.1182. This aligns with the 38.2% and 50% Fibonacci retracement levels and the 50-period MA on the 15-minute chart. A confirmed break above $0.1182 with increasing volume would provide further confirmation of a potential reversal.