SYS Technical Analysis: Within Triangle Bears Attack Buyers

SYS coin price stuck at the support trendline of the symmetrical triangle strives for a bullish reversal. Is a reversal to $0.58 possible? Key technical points: SYS prices sustain above $0.50. The EMAs give a death cross in the daily chart. The 24-hour trading volume of SYS is $16.87 Million, reflecting a drop of 41%. Past Performance of SYS SYS coin price maintains a long-term downtrend under the influence of a bearish trendline resulting in a drop of 45% since February 2022. The fall at the $0.45 mark generates a support trendline, resulting in a symmetrical triangle pattern. The current market price shows lower price rejection from the trendline. The support trendline has avoided a fall under $0.45 and brought inflation of 20% since inception. Source-Tradingview SYS Technical Analysis The SYS coin shows a diagonal trend failing to surpass the 50-day EMA and moving closer to the support trendline. Moreover, the bearish engulfing candle formed yesterday spotlights the possibility of a bearish breakout. After the recent death cross, the slightly bearish direction of the crucial daily EMA influences high bearishness, with the 50-day EMA providing resistance. Hence, the EMAs reflect a solid underlying bearishness and provide dynamic resistance to keep the bullish growth in check. MACD Indicator: The MACD and signal lines remain merged while maintaining a sideways trend below the zero line. However, the MACD histograms support a ...