Technical analysis by Innotrade_AJ about Symbol SYN: Buy recommendation (8/4/2025)

Firstly, our Algo-based indicators are used to create this analysis. Follow me so you don't miss, Boost and leave your comments if you profited with our posts, so we may continue: This daily chart for SYNUSDT showcases a significant technical development as the price appears to be breaking out of a multi-month descending channel, signaling a potential major trend reversal. Analysis: Descending Channel Breakout: The price has been confined within a clear descending channel for most of the year. The recent price action shows a decisive push above the upper boundary of this channel. It is currently consolidating right above this broken trendline, which is a classic "breakout-and-retest" pattern. Key Support: The current price is finding support at the 23.6% Fibonacci retracement level (around $0.1212). A successful hold above this level would reinforce the bullish breakout. Momentum Indicator: The Innotrade MC Signal at the bottom provides strong confluence. The indicator is sharply rising from the oversold "BUY" zone in a pattern labeled "V-Band Rising," which suggests a powerful burst of bullish momentum from a bottom. Price Projection and Targets: The illustrated price path anticipates a strong upward move following this retest phase. The first major area of resistance to watch is the zone between the 61.8% Fib level (0.2147) 𝑎 𝑛 𝑑 𝑡 ℎ 𝑒 78.6, (0.2147). This area also contains a previous order block (LSOB) and the EMA 200. Target 1: is explicitly marked at $0.2777. Higher targets based on Fibonacci extensions are noted at $0.5709 and above for the longer term. Strategy: Position : Long (Buy) Entry: The current price level, retesting the broken channel trendline (around $0.12 - $0.14), presents a strategic entry point. Targets: The initial primary target is $0.2777, with further long-term potential if bullish momentum is sustained. Conclusion: The combination of a breakout from a long-term bearish structure, a successful retest of support, and powerful momentum indicators suggests that SYNUSDT could be at the beginning of a new, significant uptrend. The current price offers a favorable risk-to-reward entry for a move towards the identified targets. Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always conduct your own research and manage risk appropriately.