When you look at the Syndicate (SYNXBTC’) chart on Bittrex, you can see that this altcoin has shredded all of its gain from its past bull run. Now, this is where technical analysis comes handy.
Let's take a look at the following chart before we start:
Notice how SYNXBTC’ removed all of its gains from its last peak or all time high. Looking at the yellow squares, this is where Syndicate always finds support (~0.00000600), this level has been holding since 2016.
After reaching this point, you can see the STOCH and RSI crying at oversold and the MACD curving up nicely. Even though the price is relatively low, you can see the indicators already curving up and moving up... bullish action is starting to show.
After a low point was hit on September, we have the highest green volume bar since April, increasing volume and over 50% increase in price. With higher lows being created. SYNXBTC’ is no longer going down, so we can get ready before it shoots up.
Note: This is a low volume altcoin. Price swings here are bigger than with bigger projects, higher is the profits potential and higher is also the risk. We use only a small portion of our capital for low volume trades.