In this Synapse technical analysis, we will examine the current price action, trading volume, key levels and indicators for SYN-USDT. Synapse (SYN) is a decentralized, open-source blockchain platform that enables the creation of next-generation dApps and smart contracts. Its novel consensus algorithm, called “Tangle,” allows for faster and more secure transactions, making it an attractive option for developers and users alike. Additionally, Synapse’s modular architecture and flexible programming language make it a versatile platform for building a wide range of decentralized applications.
Synapse Price Overview:
As of July 08, 2024, Synapse is trading at approximately 0.4283 USDT. Let’s dive into the detailed price action for SYN-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.4173 |
| High (H) | 0.4443 |
| Low (L) | 0.4035 |
| Close (C) | 0.4283 |
| Volume (C) | 1,580,293.20 |
- Open (O): The opening price for today’s trading session was approximately 0.4173 USDT.
- High (H): Synapse reached a daily high of around 0.4443 USDT.
- Low (L): The daily low for SYN-USDT was approximately 0.4035 USDT.
- Close (C): At the time of analysis, Synapse is trading near its daily close of 0.4283 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.66% |
| 3D Change (%) | -2.10% |
| 7D Change (%) | -16.43% |
| 30D Change (%) | -30.11% |
| 90D Change (%) | -68.85% |
| YTD Change (%) | -6.81% |
Over the past three days, SYNUSDT has decreased by approximately -2.10%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -16.43%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with SYNUSDT maintaining a downward trend of approximately -30.11%, despite intermittent fluctuations. Examining the last 90 days, SYNUSDT has witnessed substantial decline of approximately -68.85%, reflecting strong long-term confidence. Year-to-date, SYNUSDT has steadily declined by around -6.81%, 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-USDT 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 0.70507.
- Momentum score is -0.28521.
SYN USDT Technical Analysis
Synapse Trading Volume:
The trading volume for Synapse (SYN) over the past 24 hours has been insignificant, with approximately 1,580,293.20 USDT 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-USDT is currently in the low zone, around 38.07277. This suggests that Synapse is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Synapse (SYN-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Navigate challenges in realm of Synapse (SYNUSDT) at 4.28e-01 USDT with technical analysis pointing to bearish outlook and potential downturns.
For a deeper dive into the subject, don’t miss our comprehensive analysis on SYN BTC Synapse Technical Analysis if you found this post intriguing.
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.