Maple Finance’s SYRUP Surges 50% Post-Binance Listing—DeFi Party Just Getting Started?

SYRUP, the governance token of institutional DeFi platform Maple Finance, rockets 50% after securing a Binance listing—fueling speculation this could be the first leg of a longer rally.

Market watchers note the token still trades 80% below its 2022 peak, leaving room for recovery... or yet another ’buy the rumor, sell the news’ crypto classic.

Meanwhile, TradFi bankers quietly update their LinkedIn bios to include ’Web3 enthusiast.’

At press time, “SYRUP” was trending on Google search, which is a solid indicator of retail interest.

SYRUP price analysis

Looking at the daily chart, things are lining up bullishly. The 20-day EMA (blue) has crossed above the 50-day EMA (green), forming what traders call a “golden cross,” a signal that momentum is shifting in favor of the bulls.

At the same time, the Bull Bear Power indicator showed seven straight green candles, suggesting buyers have been dominating recently. On top of that, the Supertrend indicator has flipped green, reinforcing the bullish setup.

With this setup, SYRUP could be on track to retest the $0.30 psychological resistance, which it fell just short of in yesterday’s rally. A successful break above that could see it surpass its all-time high of $0.33, potentially opening the door for a move toward the $0.40 level if momentum stays strong.

However, traders should watch out for a potential short-term pullback. The Relative Strength Index is currently at overbought levels, meaning SYRUP could see a cooldown or some profit-taking before trying for its next leg up.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.