SYN trades near balance levels, where fading sell pressure suggests controlled accumulation activity. Clearly defined support and resistance zones frame disciplined short-term trading conditions. SNX intraday strength reflects cautious rotation interest

SYN is currently trading at $0.1381, showing resilience with support at $0.1356 and resistance at $0.1431. The token has demonstrated strength against BTC and ETH, while price action indicates potential for a breakout as it consolidates within a narrowing range.

Synapse (SYN) price surged over 120% in two weeks, breaking resistance after months of consolidation. With traders optimistic, targets suggest potential gains up to $0.8. Traders are re-evaluating SYN's market position, signaling renewed interest.

By Joy, PANews Nima Capital entered the field of vision of the domestic encryption community for the first time, but unexpectedly, it was in the form of suspected Rug running away. On September 5, the price of the cross-chain protocol Synapse plummeted, and the official response was that a Synapse liquidity provider sold its SYN tokens today and withdrew liquidity. The community later discovered that this liquidity provider was Nima Capital, which sold 9 million SYN tokens worth $3.1 million through Sushiswap within 1 minute and withdrew more than $37.5 million in stablecoin liquidity from Synapse. . The sell-off was swift and decisive, with no concern for slippage. The move caused the price of SYN to drop 22% in three hours. Previously, in March this year, Synapse passed the proposal of Nima Capital, N...

SYN market maker Nima Capital may be in financial trouble