SYRUP Technical Analysis Feb 10

SYRUP is exhibiting a clear downtrend structure and maintaining the LH/LL pattern. Could breaking the $0.2918 resistance provide the first BOS signal for a trend change?

Market Structure Overview

SYRUP’s current market structure shows a distinct downtrend characteristic. The price has been moving downward consistently with the lower highs (LH) and lower lows (LL) formation in recent periods. While the current price is at the $0.28 level, and the 24-hour change is +%2.74, this should be evaluated as a short-term recovery. Remaining below EMA20 ($0.30) confirms the short-term bearish structure. The Supertrend indicator is giving a bearish signal, and the $0.36 resistance stands out as a strong upper boundary. RSI at 38.58 is in the neutral-bearish zone, with MACD’s negative histogram indicating downward momentum. In multi-timeframe (MTF) analysis, a total of 12 strong levels were identified across 1D, 3D, and 1W timeframes: 2 supports/1 resistance in 1D, 2 supports/3 resistances in 3D, 3 supports/2 resistances in 1W. This distribution indicates that the overall structure is bearish dominant. According to market structure analysis principles, preserving LL and LH is critical for trend continuation; any higher high (HH) formation may trigger a CHoCH (Change of Character) warning.

Trend Analysis: Uptrend or Downtrend?

Uptrend Signals

For an uptrend, a higher highs (HH) and higher lows (HL) structure is sought, but this pattern is not observed in SYRUP. The recovery in the last 24 hours between $0.27-$0.29 carries potential to form an HL above the $0.2659 swing low, but it has not yet surpassed EMA20. Although the potential bullish continuation target is $0.4742 (score:45/100), this level is distant from the current structure and low probability. For upside, the $0.2918 swing high must first be broken with BOS, followed by surpassing the $0.36 Supertrend resistance. In the current structure, bullish signals are weak; RSI crossing above 50 could be the first warning for momentum change.

Downtrend Risk

The downtrend dominates strongly with the LH/LL structure. Price rejected from the recent swing high at $0.2918, formed a new LH, and tested toward the $0.2659 LL. Although $0.2352 is a deeper support, breaking it could bring the bearish target of $0.1003 (score:21/100) into play. MACD is bearish and the histogram is expanding negatively; even as RSI approaches 30 and oversold risk increases, trend continuation is likely. For invalidation of the downtrend, a close above $0.2918 and a new HH are required; otherwise, LH/LL will continue.

Structure Break (BOS) Levels

Structure break (Break of Structure – BOS) is the key to trend change. For bullish BOS, a daily close above the critical $0.2918 swing high is required; this invalidates the recent LH and triggers HL search. Then, $0.36 Supertrend and EMA20 ($0.30) must be surpassed. Bearish BOS occurs with a close below the $0.2659 swing low, opening the path to $0.2352. The abundance of 3D and 1W resistances in MTF (3R/2R) increases the difficulty of upward BOS. CHoCH recognition: If price breaks and holds above $0.2918, the downtrend character may change. Conversely, a $0.2659 break invites aggressive selling. These levels should be used as pivot points for swing trading.

Swing Points and Their Importance

Recent Swing Highs

The nearest swing high $0.2918 (score:73/100) represents the recent LH and is the BOS level. Bearish momentum increased upon rejection at this level. Previous swing highs (from MTF) cluster around $0.36, forming a general resistance cluster. Importance of these points: Break leads to new HH target $0.4742, rejection confirms LH and continuation of downside.

Recent Swing Lows

The recent swing low $0.2659 (score:73/100) is the current HL support. $0.2352 (score:73/100) is secondary support, strong from 1W MTF. Breaking these lows reinforces the LL structure and opens the door to the $0.1003 bearish target. Swing lows are entry points for long positions; however, BTC correlation should not be ignored. Support hold offers HL opportunity, break gives LL and sell signal.

Bitcoin Correlation

Altcoins like SYRUP show high correlation with BTC movements. BTC is currently in a downtrend at $69,049, testing $68,348 support with 24h -%0.38 change. BTC Supertrend is bearish, rising dominance creates pressure on altcoins. SYRUP’s bearish structure aligns with BTC; if BTC breaks $68,348, SYRUP may accompany to $0.2659. Conversely, if BTC surpasses $72,028 resistance, an altcoin rally could be triggered, facilitating SYRUP’s $0.2918 BOS. BTC levels to monitor: Supports $68,348/$62,910, resistances $72,028/$77,339. BTC downtrend continuation requires a cautious approach in SYRUP Spot Analysis and SYRUP Futures Analysis positions.

Structural Outlook and Expectations

The overall structural outlook is bearish: LH/LL dominant, BOS levels sensitive to downside breaks. For trend continuation, $0.2659 must hold, but BTC downtrend increases risk. Upside invalidation begins with $0.2918 BOS, followed by HH/HL search after CHoCH. Investors should track swing points and confirm MTF alignment. Market structure is dynamic; regular updates are essential for rapid changes. Educational note: HH/HL defines bull trend, LH/LL defines bear trend – SYRUP is in LH/LL, wait for BOS.