Bullish breakout for SYN/USDT after a correction and then a rebound
!SYN/USDT – Analysis on the hourly timeframe (1h) ⏱️
Current price: $0.1027 (+15.45%)
Technical analysis in brief:
The price rebounded strongly after bouncing from support at $0.0865 and tested resistance at $0.1020, with a noticeable increase in trading volume.
>>It is trading above the 25-period Exponential Moving Average (EMA25) near $0.0950 and EMA50 near $0.0900, which supports the bullish outlook.
>>The Relative Strength Index (RSI) is at ~68, approaching overbought territory but still leaves room for further upward movement.
Trade Settings:
✅ SYN/USDT (Buy) LONG
🔰 Entry price on breakout: $0.1040
🎯 Targets:
$0.1080
$0.1120
$0.1160
$0.1200
🛑 Stop loss: $0.0980
📌 Trader's advice:
Wait for the 1h candle to close above $0.1040 with confirmed volume increase. After the first target, move the stop loss to the entry price ($0.1040) to protect capital.
✅ SYN/USDT (Sell) SHORT
🔰 Entry price on break: $0.0980
🎯 Targets:
$0.0940
$0.0900
$0.0860
$0.0820
🛑 Stop loss: $0.1040
📌 Trader's advice:
You can enter a sell position upon the 1h candle closing below $0.0980 with confirmed high selling volume. Place a stop above the broken resistance ($0.1040) and gradually adjust the stop loss as each target is reached.
Trader's advice:
“Always remember to manage risk and do not trade with an amount you cannot afford to lose.”