$SOPH

📉 Current Price and Performance

Current Price: $0.05485.

Highest Price of the Day: $0.06454.

Lowest Price of the Day: $0.05406.

Daily Change: Decrease of 14.2%.

📊 Technical Analysis

Overall Trend: Data indicates that the currency is experiencing a sharp decline after its listing on Binance, having dropped by more than 33% within 24 hours of the listing.

Support and Resistance Levels:

Major Support: At the level of $0.05406, which is the lowest price of the day.

Major Resistance: At the level of $0.06454, which is the highest price of the day.

Momentum Indicators: No specific data has been provided on momentum indicators such as RSI or MACD, but the significant price change suggests high market volatility.

🔍 Fundamental Factors

Initial Offering and Distribution: 900 million SOPH tokens (9% of the total supply) were distributed through an Airdrop at launch, leading to significant selling pressure.

Platform and Technology: Sophon relies on ZK Stack and zkSync technology, providing fee-less transactions and a seamless user experience, which may attract more users and developers.

🧭 Future Expectations

Short Term: Price volatility may continue due to the interaction between investors and speculators after the recent listing. It is important to monitor the mentioned support and resistance levels.

Medium to Long Term: If Sophon continues to execute a successful roadmap, the price may experience gradual increases.