Altcoin Opportunities

Synapse may have a case

Updated: Jul 25, 2024

Published: Jan 5, 2024

We previously mentioned the lack of demand above $0.470 due to exhaustive price action reaching -0.550. Being cautious of this, we anticipated a pullback, bringing Synapse to a trend line and support level. If the market settles here and validates this region as support, there's a high chance of a good short-term opportunity to the upside.

For the traders

Okay, guys, based on our last Synapse analysis, scenario two has played out. Now, we reposition and readjust.

Be mindful that the markets are selling off with some weight, so we need to allow for clear strength and rejections of our levels.

Scenarios

Scenario 1: If we can find a floor at $0.410, we have a nice potential play to the upside.

Scenario 2: If we break lower, we're seeking $0.370.

Highest probability entry zone: $0.410

For the holders

The markets are having a bit of a sell-off, which is great for us. This is an accumulation level for Synapse, so grab more now and DCA in if you're holding this asset for the long term.

Accumulation levels

$0.410 $0.370 $0.340

Cryptonary's take

The markets are still moving a bit chaotic, to be honest, but Synapse could be shaping up nicely for a short-term play to the upside, and the price has fallen into a key area of support that holders should take a look at.