SYNUSDT trade ideas
SYN/USDT Perfectly break out the Bullish Pennant pattern.💎 SYN has been drawing considerable interest in the market. Presently, it's observed breaking out of a Bullish Pennant pattern. A closer look at the NYSE:H TF shows that SYN is undergoing a retesting phase at the trendline. This phase is pivotal, as it sets the stage for a probability continuation of the upward movement, with the next target being the bearish OB area.
💎 In the demand zone, it's crucial for SYN to demonstrate a strong rebound. If it merely consolidates without making a significant bounce, there's a risk that SYN could lose this key area. Such a development would potentially lead to a downward trajectory, bringing SYN back towards a substantial support area.
💎 It’s essential for Paradisers to closely monitor these developments, as SYN's response to this retesting phase will be critical in determining its future market direction.
Synapse is looking strongFor sure there is some battle between bulls and bears in the market at the moment, but it shouldn't be hard to find some strong supports in alts to take some profits from these volatility, SYN is one of them, although it almost hit my SL, but now i believe it's ready to soar to 0.70 cents
Facts:
Respects both horizontal and vertical support
Indicators, RSI and also Stoch crossing show bullish signs
Even though BTC corrected 5 percent today SYN rose by 3 !
I think I'm Adding to my possition by midnight tonight
SYNUSDTSYNUSDT was trading under declining trendline and recently it seems like the sellers are bit exhausted then bulls took the charge and break through declining trendline.
Currently the price has given the breakout from falling trendline and now forming a local support around 0.4500 region.
Will the bulls take charge again continue for leg higher?
$SYN Wyckoff Sign of StrengthWe have seen our sign of strength here on SYN, and broken outside of the local consolidation. Im not really a flag / pennant guy, but this is typical behavior after the sign of strength. High and tight consolidation, with the expectations of a continuation out of the range there after.
At this stage the LPS should remain intact, and it does look like we got a checkback on top of .35 there.
Above the range, id say its .45 cents next and ultimately a retest of the upper red zone at about .54. A simple extension of wave 1 would take you to .61 and a 2.0 to .74
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I'll be making a series on altcoins that are trading well under 1 dollar. These coins make for great additions to a diversified portfolio AND with such a cheap price, why not get a few. You never know which one will 100x 🤑
CQTUSDT Covalent :
SOLOUSDT Sologenic :
And SYNUSDT Synapse on the front chart:
NOTE that these are accumulation ideas ideally. You can definitely swing trade once they have doubled, but keep a few around for incase one of them x10 or x100.
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