Maple Finance (SYRUP) Price Prediction: Avoiding the Crypto Assets Crash, Traders "Buy on Rumors" Challenge $1

Maple Finance (SYRUP) unexpectedly dodged the cryptocurrency crash before the weekend, and today (25th) it is temporarily reported at 0.572 USD in the European morning session. There are rumors that the CEX exchange has listed SYRUP, but the news has not been confirmed. With this in mind, let's check the charts and determine what will happen in the future.

SYRUP surges against the trend to challenge historical highs

The price of SYRUP fell below the resistance trend line after reaching an initial high of $0.658 on June 25.

The bearish trend led to a price drop to a low of $0.40 on July 21, but it subsequently rebounded, validating the $0.41 level as a support area.

Subsequently, SYRUP started a strong rebound, breaking through the resistance trend line and forming five consecutive bullish candles.

Today, the SYRUP price reached a historic high of 0.675 dollars, followed by a slight decline.

This decline is concerning as it has resulted in a longer upper shadow and has fallen below the resistance area of $0.62.

If the price trend remains unchanged, it will create a deviation above the historical high, which often leads to a bullish trend reversal.

Despite the bearish signs, the momentum indicators remain positive. The Relative Strength Index (RSI) has broken above 50, while the Moving Average Convergence Divergence (MACD) has formed a bullish crossover (black circle).

Therefore, although the price trend appears bearish, the indicators still point to a strong bullish trend.

Let's take a look at the wave number and see if we can break the deadlock.

(Source: Trading View)

What is the next step for SYRUP?

The wave count shows a complete five-wave upward movement, and the fifth wave of the SYRUP price created an ending diagonal, further confirming that this is the correct count.

Although the price of SYRUP later fell, the duration of the decline was too short to correct the overall trend, even though its magnitude was appropriate.

Therefore, the main possibility is that SYRUP is completing wave B in the ABC platform, which will bring the price back to $0.37, thus confirming that the rebound is just a deviation.

(Source: Trading View)

Another interpretation is that the correction has ended, and the SYRUP price has begun a new round of five-wave upward movement.

If this is indeed the case, then the adjustment is over, and the SYRUP price will soon rise back to 1 dollar.

(Source: Trading View)

Due to the conflicting readings of price action, momentum indicators, and wave counts, the future trend of SYRUP remains unclear.

The future trend of SYRUP is unclear

The price of SYRUP has reached a historic high today, but the future trend remains unclear.

Price action and momentum indicators are inconsistent, with the former bearish and the latter bullish.

In addition, the wave counting provides two valid counts, but it cannot confirm whether the breakout is legitimate or a deviation.