Take a look at $SYN this trend: this SYN candlestick closed in an interesting way—on the daily chart it dropped from 0.20892 to 0.16586, a decline of 10.51%, but with trading volume at 452 million, it didn’t shrink, which suggests someone was buying into the selloff rather than a one-way rout.
On the 4-hour chart, after that spike down to 0.16586, it was immediately pulled back up, with a fairly long lower wick, looking a bit like a pattern where bears made a concentrated push but got absorbed by buy orders. Around 0.17603, it went sideways for nearly half a candle and didn’t break; treat that as short-term support. If it breaks, then the next level to look for is the wick bottom around 0.165.
Resistance is around 0.195 to 0.20. Before the drop, this area saw heavy turnover, and trapped positions haven’t fully cleared out. Upward, first see whether 0.185 can hold; if it does, then talk about 0.195. Set the stop-loss at 0.1638,
#SYN
On the 4-hour chart, after that spike down to 0.16586, it was immediately pulled back up, with a fairly long lower wick, looking a bit like a pattern where bears made a concentrated push but got absorbed by buy orders. Around 0.17603, it went sideways for nearly half a candle and didn’t break; treat that as short-term support. If it breaks, then the next level to look for is the wick bottom around 0.165.
Resistance is around 0.195 to 0.20. Before the drop, this area saw heavy turnover, and trapped positions haven’t fully cleared out. Upward, first see whether 0.185 can hold; if it does, then talk about 0.195. Set the stop-loss at 0.1638,
#SYN