Syn currency analysis:
The Relative Strength Index (RSI) provides additional insight into market momentum by measuring the magnitude of Synapse's price movements to determine whether they are overvalued or undervalued. Market traders use the RSI as a momentum indicator to identify conditions of overbought or oversold, and to decide to accumulate or sell assets. Readings above 50 and an uptrend indicate that bulls still have a point of strength, while readings below 50 indicate the opposite.
According to the RSI, in the 1-week candle time frame, Synapse Coin is currently trending bearish with the actual RSI reading at 44.07. The 50 line could provide resistance if the indicator returns to it.
In the weekly SMA time frame, Synapse price is in a moderate trend since the 50 period moving average has crossed the lower of the 200 period moving average and the price is trading above both.
According to MACD, in the 1-week-candle time frame, Synapse price is currently trending downward momentum since the MACD signal line moved lower 50 periods ago and was negative for 50 periods.
