Syn, as we said earlier, the 0.52u level couldn't hold, and now it has fallen back to 0.38u. But during this period, a major event happened worth mentioning.

On July 1st, a well-known crypto tycoon spent $2.2 million to buy over 6 million SYN. As soon as the news came out, the price directly surged to 0.65u, with daily trading volume exceeding $200 million.
But the problem is that this rally couldn't hold, and now it has fallen back.
Why couldn't it hold? Because the reason the tycoon bought was that he was bullish on a project called Hypercall, which is related to SYN and aims to do on-chain options trading, competing with Deribit.
But this project hasn't taken off yet; it's just a story. What was bought was expectation, not reality. When the sentiment faded, the price followed.
Now at 0.38u, the 0.4u support we mentioned earlier has basically broken. Next, look at 0.26u, which is the origin of this wave.
This tycoon hasn't sold yet. He chased the high and entered, with a cost around 0.65u, currently in a floating loss. If he can't hold and sells, the price will continue to go down.
This position is not the time to chase. Wait until it truly stabilizes before doing anything.

$SYN

‍#SYN