$SOMI Market Update
$SOMI is trading around 0.75 USDT, down nearly 10% on the day. Volatility remains high, with price hitting a low of 0.7442 before staging a slight bounce.
Technical Picture:
• The 7-day MA is aligned with current price, while the 25-day and 99-day MAs sit higher, confirming ongoing downside pressure.
• Volume spikes on red candles show strong selling activity, though smaller recovery candles suggest buyers are defending this support zone.
Performance Recap:
• 7-day: –18%
• 30-day: –50%
This underscores the depth of the correction.
Key Levels to Watch:
• Support: 0.74–0.75 (make-or-break zone)
• Near-term upside target: 0.78–0.80 if bulls hold support
• Breakdown risk: Failure to hold could trigger deeper losses
🔎 Smart traders are closely watching volume dynamics before positioning for the next move.