In this Synapse technical analysis, we will examine the current price action, trading volume, key levels and indicators for SYN-BTC. Synapse (SYN) is a decentralized cryptocurrency that utilizes advanced encryption techniques to ensure secure and private transactions. The SYN blockchain operates on a proof-of-stake consensus algorithm, which allows for faster transaction processing times and lower energy consumption compared to traditional proof-of-work algorithms. With its focus on privacy and security, Synapse is well-positioned to become a leading cryptocurrency in the rapidly growing decentralized finance (DeFi) market.
Synapse Price Overview:
As of October 02, 2023, Synapse is trading at approximately 1e-05 BTC. Let’s dive into the detailed price action for SYN-BTC:
| Metric | Value |
|---|---|
| Open (O) | 1e-05 |
| High (H) | 1e-05 |
| Low (L) | 1e-05 |
| Close (C) | 1e-05 |
| Volume (C) | 18,701.00 |
- Open (O): The opening price for today’s trading session was approximately 1e-05 BTC.
- High (H): Synapse reached a daily high of around 1e-05 BTC.
- Low (L): The daily low for SYN-BTC was approximately 1e-05 BTC.
- Close (C): At the time of analysis, Synapse is trading near its daily close of 1e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | -5.07% |
| 3D Change (%) | -4.99% |
| 7D Change (%) | -4.11% |
| 30D Change (%) | -28.18% |
| 90D Change (%) | -49.29% |
| YTD Change (%) | -71.64% |
Over the past three days, SYNBTC has declined by approximately -4.99%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -4.11%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SYNBTC maintaining a downward trend of approximately -28.18%, despite intermittent fluctuations. Examining the last 90 days, SYNBTC has witnessed substantial drop of approximately -49.29%, reflecting strong long-term confidence. Year-to-date, SYNBTC has steadily decreased by around -71.64%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Synapse Live Chart:
You can access a live price chart for SYN-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.77038.
- Momentum score is -0.28176.
SYN BTC Technical Analysis
Synapse Trading Volume:
The trading volume for Synapse (SYN) over the past 24 hours has been insignificant, with approximately 18,701.00 BTC traded against SYN. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): SYN is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Synapse is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for SYN-BTC is currently in the low zone, around 37.54535. This suggests that Synapse is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Synapse (SYN-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
