$SYN has experienced a notable price decline of 6.43% in the last 24 hours, reflecting an overall downtrend in the cryptocurrency market. The price fluctuated within a narrow range of 0.2367 to 0.2559, closely aligning with the Bollinger Bands which indicate increased volatility. Support at 0.2367 holds potential, while resistance at 0.2559 poses a barrier to recovery. Macroeconomic factors, particularly inflation concerns and regulatory uncertainty, may exacerbate downward pressure. Although Bitcoin's influence appears undefined, its prevailing sentiment often indirectly affects altcoins like SYN. Traders should consider a short-term strategy given current volatility, with close attention to breaking either the support or resistance. The key takeaway: safeguarding strategies amidst uncertainty—and preparedness for swift reversals—will be crucial in navigating SYN's next moves.
