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$SOMI / USDC – Technical Analysis (16-minute chart)
1. Price Action
SOMI is currently trading around 0.2765, up +7.38% for the day.
The price is holding above the middle Bollinger band (MB), which signals a short-term bullish trend.
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🔍 2. Bollinger Bands (BOLL 20,2)
• Upper band (UP): 0.2790
• Middle band (MB): 0.2730
• Lower band (DN): 0.2670
Price is moving towards the upper band, showing momentum. Once the price touches the 0.2790–0.2800 zone, a small pullback or consolidation is likely.
The previous high at 0.2800 acts as resistance.
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🔥 3. RSI (6 / 12 / 24)
• RSI(6): above 70 → short-term overbought, potential pullback
• RSI(12): 62
• RSI(24): 57
Overall, RSI signals a bullish trend, but the fast RSI shows the price is nearing exhaustion.
This typically means:
👉 Not a short setup, but a small dip before continuation is possible.
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📈 4. Trend & Moving Averages
The price is above the 20 EMA, confirming a short-term uptrend.
Recent candles formed higher highs and higher lows, which is classic bullish market structure.
Strong trend.
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🧱 5. Key Levels
Resistance:
• 0.2800 (major local top)
• 0.2850 (next resistance if broken)
• 0.3000 (psychological level)
Support:
• 0.2730 (middle Bollinger)
• 0.2670 (lower Bollinger + previous bounce)
• 0.2550 (local bottom)
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🎯 6. Trader Conclusion
SOMI is currently bullish short-term and seems ready to retest the 0.2800 resistance.
If the price closes above that level on the 16m or 1h chart, the next targets become 0.285 → 0.300.
However, the RSI is overbought, so:
➡️ If you want to enter now: risky — better wait for a pullback to 0.270–0.273.
➡️ If you’re already holding: trend looks healthy, but expect a small pause.
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📌 Summary
SOMI is in a short-term bullish structure. The 0.2800 zone is key resistance — a breakout could send the price to 0.285–0.300. RSI is overbought, so a brief pullback is likely before making new highs. Trend remains strong with no major weakness on the chart.
#Somi