SYRUPUSDT Breaks Key Support — But Buyers Hold Near 0.275

Summary
• Price broke below 0.2776 support, forming a bearish engulfing pattern near 0.2805.
• RSI indicates oversold conditions below 30, but volume has not confirmed a reversal.
• Volatility expanded after 03:00 ET, with Bollinger Bands widening as the pair drifted lower.
• A 50-period moving average on 5-min chart crossed below price, signaling bearish momentum.
• 0.275–0.276 appears as a key support cluster, with price rebounding from this zone twice since 07:00 ET.

Maple Finance/Tether (SYRUPUSDT) opened at 0.2784 on 2026-02-06 12:00 ET, peaked at 0.2882, and closed at 0.2731 as of 2026-02-07 12:00 ET. The 24-hour volume was 6,274,298.0 and turnover reached $1,743,303.20.

Structure and Key Levels

The price action formed a bearish engulfing pattern around 0.2805–0.2826, followed by a breakdown to 0.2731. A cluster of support is forming near 0.275–0.276, where the price has rebounded twice. 0.2776 acted as a minor resistance-turned-support in the morning.

Momentum and Indicators

RSI bottomed near 30 in the morning, hinting at oversold conditions, but volume failed to confirm a reversal. MACD turned bearish after 06:00 ET, with the line falling below the signal line. The 50-period moving average on the 5-min chart crossed below price in the late morning, reinforcing bearish momentum.

Volatility and Patterns

Bollinger Bands expanded significantly from 03:00 ET onward as the pair drifted lower, with price lingering near the lower band for most of the 24-hour period. A small doji formed near 0.2766 in the late evening, suggesting indecision in the short term.

Volume and Turnover

Volume increased notably between 05:00 and 07:00 ET as price broke key support levels. However, turnover did not follow suit proportionally, hinting at fragmented selling pressure. The largest single 5-minute volume spike occurred at 15:00 ET, but the price drifted lower afterward, indicating weak conviction.

Fibonacci and Retracements

A swing from 0.2882 to 0.2731 saw the price find short-term support at the 61.8% Fibonacci level around 0.276. The 38.2% retracement (0.2808) acted as resistance in the morning before the breakdown.

The pair appears to be consolidating near the 0.275–0.276 range, with a potential test of 0.2726–0.2715 ahead if the downward trend continues. A recovery above 0.2776 could trigger a short-term bounce. Investors should remain cautious as volatility and momentum remain skewed to the downside.