$SOPH Just Faced a Short Liquidation of $1.43K at $0.07933 — A Storm Is Brewing
A powerful short squeeze has cracked the surface with $SOPH liquidating $1.43K worth of short positions near the $0.07933 level. This could be the spark before the firestorm — a reversal signal traders dream of catching early.
Technical Analysis Breakdown:
Buy Zone:
$0.07450 to $0.07900
This zone marks strong historical support, where bulls have previously fought hard. With fresh short liquidations, the probability of an upward momentum spike increases. Accumulation within this zone could offer a solid risk-reward setup.
Primary Target Levels:
Target 1: $0.08690
Target 2: $0.09350
Target 3: $0.10400 (Breakout Zone)
These targets are based on resistance levels formed during past upward moves and Fibonacci retracement alignments. A surge beyond $0.09350 could lead to an explosive breakout toward $0.10400.
Stop Loss:
$0.07180
Placing a tight but logical stop just below the key support area. If the price breaks this level, momentum may shift bearish, invalidating the setup.
Conclusion:
$SOPH is showing early signs of a possible short squeeze rally. The liquidation at $0.07933 could be the early tremor before a seismic bullish reversal. This setup isn't for the faint-hearted — it's for those who thrive on volatility and time their moves like precision snipers.