THE SYMMETRICAL TRIANGLE IS BREAKING DOWN. SELLING PRESSURE IS BUILDING.
$SYN
has pumped 12.56% to $0.16710. The daily chart is showing a symmetrical triangle pattern that is breaking to the downside. This is a bearish signal that often precedes a significant decline. The RSI is at 68, which is not overbought yet, but the MACD is showing a bearish crossover on the 4-hour chart, confirming that the momentum is shifting. The volume is also declining, suggesting that the buyers are losing interest. The price is sitting at a resistance level of $0.1700, which has rejected price multiple times in the past. If the price fails to hold above $0.1650, the downside target is $0.1500, which is a 10% drop. However, if selling pressure intensifies, we could see a test of $0.1350, which is a 19% correction from the current level. Historical data shows that when SYN has broken down from a symmetrical triangle, it has corrected an average of 17% within 48 hours. What are you seeing on SYN?
$SYN
has pumped 12.56% to $0.16710. The daily chart is showing a symmetrical triangle pattern that is breaking to the downside. This is a bearish signal that often precedes a significant decline. The RSI is at 68, which is not overbought yet, but the MACD is showing a bearish crossover on the 4-hour chart, confirming that the momentum is shifting. The volume is also declining, suggesting that the buyers are losing interest. The price is sitting at a resistance level of $0.1700, which has rejected price multiple times in the past. If the price fails to hold above $0.1650, the downside target is $0.1500, which is a 10% drop. However, if selling pressure intensifies, we could see a test of $0.1350, which is a 19% correction from the current level. Historical data shows that when SYN has broken down from a symmetrical triangle, it has corrected an average of 17% within 48 hours. What are you seeing on SYN?