$SYN - NEUTRAL
After tripling its price over weeks,
$SYN has corrected from the 0.72495 high and is now testing a key support zone.
Trading Plan:
Entry: N/A
SL: N/A
TP1: N/A
TP2: N/A
TP3: N/A
Why this setup?
Price is approaching the 99-period EMA (0.3614), which has acted as structural support in strong uptrends.
RSI(6) at 40.4 is neutral, and it has not yet shown a clear signal that the support will hold.
Without a bounce confirmation (a reversal candle or a breakout above the 25 EMA), there is not yet a good risk/reward entry.
Will the 99 EMA support hold, or do we see a deeper correction after such a sharp rally?
Risk Management: in pullbacks after large rallies, waiting for the candle confirmation usually saves more capital than anticipating the rebound.
Click here to Trade 👇
#synapses