The #SYN/USDT chart shows a significant uptrend in the last hour, with the price increasing by 47.35% to $0.6896. Here's a breakdown of what this chart suggests:
*MACD (Moving Average Convergence Divergence):The MACD is positive, but the histogram bars are getting shorter, possibly signaling weakening bullish momentum*
Potential Next Moves:) Bullish Scenario:If the price sustains above the MA(7) ($0.6691) and volume increases again, SYN/USDT could retest the recent high at $0.7564 or even break above it.Watch for a bullish MACD crossover to confirm a continuation of the uptrend.Bearish Scenario:If the price falls below the MA(7) and continues to decline, it might test lower supports around $0.6253 or $0.5824 (MA(25)).Decreasing volume and a bearish MACD crossover would strengthen the case for a pullback.
For Long Positions:Consider entering if the price holds above $0.6691 and shows renewed buying interest, with a target around $0.7564 or higher.
For Short Positions:Look for a break below $0.6691 with confirmation from declining volume and MACD, targeting $0.6253 or lower.Keep an eye on the overall market sentiment and any significant news regarding SYN that could impact its price.
