Synapse Price Prediction: 2024, 2025, 2030

SYN price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly time frame, $0.28 was found to be the lowest support.
• Conversely, $1.55 stood out as the highest resistance level.

2. Market sentiment

• The market remains slightly bearish as of September 2024.

3. Predictive forecasts

• Based on our AI/ML algorithms forecasts, SYN is projected to trade at an average price of $1.60 in 2031 and more than $3.00 in 2035.

Discover essential information on SYN’s future trajectory via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

SYN technical analysis: Bulls push against a stubborn bear wall

Synapse has made significant strides in the crypto world by advancing blockchain interoperability with its innovative protocols. As investors navigate recent volatility, the Synapse price prediction for 2024 can be a helpful resource to navigate its prospects.

The period began with a stern rejection at $0.40. In mid-September, the declines were contained at the lowest yearly support, $0.28. The token’s oversold state and the broader market rally in mid-October led to significant gains for SYN. However, buyer resilience was tested at $0.50 as it proved difficult to overcome.

This level was tested repeatedly between mid-November and January. Finally, a substantial price pump flipped it into support. By mid-month, the token reclaimed $0.67. After a month-long stabilization, the uptrend resumed in late February.

Moreover, the initial test of the highest yearly resistance at $1.55 in early March caused a slight retracement. Nonetheless, SYN bulls moved to retest it by the end of the month. The sector-wide crash in Q2 2024 reversed the gains, and the market continued to see red until late May.

The resurgence of buying pressure in mid-June and mid-July was fleeting, and the downtrend could not be reversed. By August, the price dropped to the lowest support. Notably, SYN’s listing on Binance futures triggered a dramatic price increase mid-month.

However, the hype was short-lived, and the simultaneous test of $0.67 triggered sell-offs. Consequently, the token returned to $0.40 by September. By the second week, the bulls rallied again, eyeing the $0.50 resistance. At press time, SYN was valued at $0.48. 

Reclaiming the latter level would be necessary for the bulls to reverse the market trend. Afterward, the $0.67 mark can likely lead to substantial liquidations. Regardless, if the bulls counter that, it would open up the way to attain a valuation over the psychological mark of $1.00. Regardless, if the selling pressure increases, SYN might drop to $0.40 or revisit the yearly low.

The predictive models forecast SYN's price to reach $1.60 by 2031 and over $3.00 by 2035, demonstrating a continuous but moderate appreciation.

SYN's 2024 roadmap: Key indicators to watch and trade

• The trading volume remained predominantly low. However, it surged with the price pumps, indicating an active investor presence during rallies, especially during the mid-August peak.
• The Relative Strength Index (RSI) remained in the oversold region until mid-October. It moved over the 50 line in early January and ascended into the overbought region by late February.
• The succeeding descent drove the indicator below 50 by May. After an unsustainable spike in mid-August, the RSI dropped again. It stood at 44.75 at press time, highlighting a dominant bearish presence.
• The Chaikin Money Flow (CMF) crossed the zero line in early January but dropped below by late March. The intermittent surges in late April and May did not lead to a decisive breakout.
• In mid-August, the indicator turned positive again. After another drop, its value adjusted to 0.04, indicating an inflow of money into the asset.