SYNUSDC Market Overview: Bullish Momentum Meets Intraday Pressure

• Price surged from $0.1163 to $0.1217 amid strong afternoon volume, but retraced sharply to $0.1180.
• RSI hit 65 mid-day, hinting at momentum slowdown; divergence seen with MACD flattening after a bullish crossover.
• Volatility expanded through Bollinger Bands, with a late-day contraction suggesting potential consolidation.
• Key support at $0.1180 was tested and held, while resistance remains at $0.1216.

Synapse/USD Coin (SYNUSDC) opened at $0.1163 on 2025-09-04 at 12:00 ET, reached a high of $0.1217, and closed at $0.1200 at 12:00 ET on 2025-09-05. The 24-hour volume was 219,848.7, and notional turnover amounted to $26,517.87.

Structure & Formations

The candlestick structure on the 15-minute chart reveals a strong bullish bias during the early afternoon, with a shooting star at $0.1217 followed by a bearish engulfing pattern at $0.1213–$0.1209, signaling potential exhaustion at the upper end of the day’s range. A doji near the 50-period moving average at $0.1200 suggests indecision. Support levels to watch include $0.1180, $0.1176, and $0.1169, with $0.1169 recently acting as a pivot level.

Moving Averages and MACD

The price closed above both the 20-period and 50-period moving averages, indicating a short-term bullish bias. MACD turned from positive to neutral by the end of the session, reflecting a slowdown in bullish momentum. The histogram began to flatten and show a bearish divergence against the price, which may signal a potential pullback in the near term.

RSI and Bollinger Bands

RSI climbed to 65 in the morning before retreating to 52, indicating overbought conditions have eased. Bollinger Bands showed significant expansion during the afternoon, with price reaching the upper band at $0.1217 before retreating into the middle band. This suggests volatility has peaked, and a period of consolidation may follow.

Volume & Turnover

Volume surged during the afternoon rally, peaking at 33,920.3 at $0.1216, but declined sharply after the shooting star formation, suggesting profit-taking. Turnover followed the same trend, confirming the strength of the move higher and the waning momentum in the late session. No significant divergence was observed, though a volume low in the early morning at $0.1176 suggests limited conviction in the bullish phase.

Fibonacci Retracements

The 38.2% Fibonacci retracement level at $0.1200 was key during the retracement phase and held as a temporary support. The 61.8% level at $0.1184 is the next critical area to watch, especially if the current consolidation breaks lower. On the daily chart, a 61.8% retracement at $0.1175 remains a significant psychological level.

Backtest Hypothesis

A potential backtesting strategy could be built on the key Fibonacci and moving average levels identified. A long entry might be triggered on a bullish breakout above $0.1200 with a stop-loss below $0.1194, aiming for a target at $0.1216–$0.1217. A short entry could be considered on a breakdown of $0.1184, with a stop above $0.1189, targeting $0.1175–$0.1176. Given the current balance between bullish and bearish momentum, this strategy would benefit from low-latency execution and tight position sizing to manage drawdown risk.