🚨 SYN/USDT: The Interoperability Token at a Crossroads! Bullish Reversal or Deeper Correction?

Market Outlook: After a significant and prolonged downtrend, Synapse ($SYN) has found a potential bottom and is in a period of consolidation. The price is currently trading near $0.139 after a recent 24-hour decline.

💡 Futures Trading Plan (Neutral Stance):

🟩 Long Entry Trigger: Look for a confirmed breakout and candle close ABOVE the resistance level of $0.1525 on a higher timeframe (e.g., 4H or Daily) with significant volume. This breakout would confirm a shift in momentum and a likely trend reversal.

💰Targets: $0.1560, $0.1600, and potentially towards $0.1650.

🛑Stop Loss: Below the breakout candle's low or below the immediate support at $0.1460.

🟥 Short Entry Trigger: Consider a short if the price shows a strong rejection at the $0.1525 resistance zone and a confirmed breakdown BELOW the crucial support level around $0.1340 with a closing candle on a higher timeframe.

💰Targets: $0.1300, and potentially lower toward the recent bottom near $0.1250.

🛑Stop Loss: Above the resistance zone at $0.1525.

Your Action Plan:

01 - Wait for Confirmation: SYN is at a critical juncture. The market is at a pivotal point, and it is vital to wait for a clear, high-volume signal indicating a potential reversal before committing capital.

02 - Use a Stop-Loss: Given the asset's history of volatility, a stop-loss is essential for managing risk and protecting your capital.

03 - Manage Your Risk: Do not over-leverage your position. Assess your risk tolerance and size your trades accordingly, especially in the futures market.

📢 What are your thoughts?

Vote: Do you think SYN will break out of its consolidation and push higher, or will it be rejected and continue to fall?

Breakout and Rally 🚀

Rejection and Decline 📉

Comment: Share your analysis below!