🚨🔥 $SYN /USDT Trade Signal – Critical Reversal or More Downside? 🔥🚨
Current Price: $0.3645
#SYN has been in a sustained downtrend, recently bouncing from its 24h low of $0.3552, attempting a minor recovery. The 24h high of $0.3973 marks a key resistance, with a larger supply zone near $0.4925, aligning with the 50-day moving average.
📊 Key Levels to Watch:
🔻 Support: $0.3550 – Holding above this level is crucial to prevent further downside pressure.
🔺 Resistance: $0.4000 – A breakout above this could trigger a short-term bullish reversal.
📉/📈 Trade Setup:
💡 Entry Point: Consider long entries above $0.3700 if momentum builds.
🎯 Targets:
1️⃣ $0.4000 (Initial Target)
2️⃣ $0.4500 (Mid-Term Resistance)
3️⃣ $0.4925 (Extended Target, 50-day MA)
🛑 Stop Loss: $0.3480 – Below recent swing low to limit risk.
⚠️ Pro Tips:
Momentum Check: RSI at 45.68 suggests neutral momentum, awaiting a decisive move.
Volume Indicator: A breakout should be confirmed with higher trading volume for validity.
Risk Management: Trail stops as price approaches resistance zones to secure profits.