$SOMI – Sellers Capping Recovery at Supply
SOMI trades at $1.30, rebounding slightly after rejection from the $1.58 resistance zone. Sellers remain in control with heavy supply overhead.
Market Structure:
• Resistance: $1.50–$1.58 zone keeping upside capped.
• Support: $1.20 – Breakdown exposes $1.00.
• Momentum: Bounce weaker than the sell-off.
Trading Outlook:
• Short bias below $1.50 targeting $1.20 → $1.00.
• Stop-loss: $1.55 to stay safe above rejection zone.
Takeaway:
As long as $SOMI trades under $1.50, market structure stays bearish and sellers remain dominant.