In this technical analysis of Synapse, we will delve into the current price action, trading volume, key levels, and indicators for SYN-BTC. Synapse, a decentralized platform, empowers the creation and execution of smart contracts, facilitating seamless interactions between various blockchain networks. Its innovative consensus algorithm ensures fast and secure transactions, making it an attractive option for businesses and individuals seeking to harness the potential of blockchain technology. With Synapse, users can effortlessly access a broad range of decentralized applications (dApps) and services, further expanding the possibilities of what can be achieved through blockchain technology.
Synapse Price Overview:
As of July 19, 2024, 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) | 0.00 |
- 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 (%) | 0.00% |
| 3D Change (%) | -0.86% |
| 7D Change (%) | -7.91% |
| 30D Change (%) | -28.67% |
| 90D Change (%) | -15.97% |
| YTD Change (%) | 5.59% |
Over the past three days, SYNBTC has experienced a significant decline of approximately -0.86%, indicating increased market volatility. This downward trend continued throughout the week, with a loss of around -7.91%, suggesting a decrease in investor interest. A 30-day analysis provides a more comprehensive view, revealing a consistent downward trend of approximately -28.67%. Looking at the last 90 days, SYNBTC has witnessed a substantial decline of around -15.97%, reflecting a loss of long-term confidence. In contrast, year-to-date, SYNBTC has steadily appreciated by approximately 5.59%.
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 0.45288.
- Momentum score is -0.21096.
SYN BTC Technical Analysis
Synapse Trading Volume:
The trading volume for Synapse (SYN) over the past 24 hours has been insignificant, with approximately 0.00 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 40.73906. This suggests that Synapse is in bearish territory.
Analysis from TradingView:
Our Key Takeaways: Synapse (SYN-BTC) is currently experiencing short-term bearish momentum, with key support and resistance levels drawing attention from traders and investors. It’s crucial to monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI reading and insignificant trading volume are low signals indicating a potential downward trend.
Clearly see potential bearish trend for Synapse (SYNBTC) at 1.15e-05 BTC through detailed technical analysis, highlighting weakened support and cautionary indicators.
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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.