Techopedia explains
Geosynchronous Satellite
When this type of satellite's orbit is placed over the equator, the orbit is circular and the angular velocity is identical to the earth's and the satellite is known as a geostationary satellite. This satellite would be in both a geostationary and geosynchronous orbit. Attributing to synchronization, the satellite appears to be stationary.
These satellites are placed at an altitude of approximately 22,000 miles directly over the equator and revolve in the same direction as earth rotates from west to east. At this altitude, it takes the satellite 24 hours to circle the earth.
If a geosynchronous satellite orbit is not properly aligned with the equator, the orbit is called an inclined orbit. These satellites appear to oscillate daily around a fixed point. When the angle between the orbit and the equator decreases, the magnitude of oscillation becomes smaller. When the orbit lies entirely over the equator, the satellite remains stationary in relation to the earth's surface and the orbit is known as a geostationary orbit.
The majority of telecommunication satellites use the geostationary orbit, as the speed of telecom satellites matches the earth's rotation speed. As they appear fixed in the sky, it’s easy to point a satellite dish to a fixed direction, and satellites can point their telecommunication equipment to fixed points on the ground.