$SYN
Resistance and Support:
Resistance: Immediate resistance lies at $0.6975. Breaking this level could lead to further upward movement, with potential targets near $0.7032 or higher.
Support: Support levels are near $0.6377 (MA7) and $0.6179 (MA25), where buyers might step in if the price pulls back.
Volume Analysis:
Volume: Trading volume is strong, supporting the price rally. However, it's slightly lower than the 5-period moving average (MA5), suggesting a possible stabilization or short-term consolidation.
Recommendations:
For Buyers: Consider entering near support levels ($0.6377 or $0.6179) or after a breakout above $0.6975.
For Sellers: Monitor the price near $0.6975 for resistance. If the price fails to break above this level, consider taking profits.
Note: The sharp rise in price indicates high volatility, and traders should exercise caution and use stop-loss orders.