The stars align for a SYN rally

First off, that's a nice round psychological number, right?

But then, when we drew a horizontal line, We realised it lined up PERFECTLY with these other weekly highs and lows (see video) NGL; the accuracy was satisfying to see

So, obviously, that means 0.550 is a SUPER key area for Synapse going forward.

We really don't care if we push higher on the weekly chart eventually; those price reactions are burned into the charts now. The way it wicked and rejected hard off that level tells you the sellers are flexing their muscles there.

Now, just because it's rejected hard so far doesn't mean it can't push through.

There's definitely willingness for higher prices, as evidenced by the breakout and daily close above the range.

Sure, we fell back below, but with all the hype and euphoria lately, we can easily see Synapse making a run-up to test those highs again soon!

So, here are a couple of scenarios we are watching now:

First, we reclaim 0.550, consolidate and validate it as support before continuing higher to break the recent highs. But we want to see a confident daily close back above 0.550 and some intraday support first before calling it a true breakout. Either way, thanks to the market giving us these signals, we've adjusted our outlook and have some fresh price targets for Synapse now!

This is why you always let the charts tell the story before putting your own bias on it.

Stay tuned for the next update; hopefully, we’ll get that continued move up!