SYN/USDT Breaks Downtrend: Bulls Eye $0.95 Next Target !
The daily chart for SYN/USDT shows a significant breakout from a descending trendline that has been in place for several months. The pair recently surged, breaking through key resistance levels and signaling a potential shift in market sentiment from bearish to bullish.
Currently, the price is hovering around $0.6729, just above the critical support level of $0.6000. The recent breakout above the descending trendline is a strong bullish signal, suggesting that the downtrend has ended, and a new upward trend may be starting.
The next major resistance lies at $0.9500. If the bullish momentum continues and the price closes above $0.6000, we could see a strong push towards $0.9500, a key psychological level.
Traders should watch for any retests of the $0.6000 support zone, as a successful hold above this level could confirm the breakout and further solidify the bullish outlook. However, failure to maintain this level could see a retracement back towards $0.4043.
Currently, the price is hovering around $0.6729, just above the critical support level of $0.6000. The recent breakout above the descending trendline is a strong bullish signal, suggesting that the downtrend has ended, and a new upward trend may be starting.
The next major resistance lies at $0.9500. If the bullish momentum continues and the price closes above $0.6000, we could see a strong push towards $0.9500, a key psychological level.
Traders should watch for any retests of the $0.6000 support zone, as a successful hold above this level could confirm the breakout and further solidify the bullish outlook. However, failure to maintain this level could see a retracement back towards $0.4043.
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