$SOPH

📉 Current Price and Performance

Current Price: $0.05485.

Highest Price Today: $0.06454.

Lowest Price Today: $0.05406.

Daily Change: Decrease of 14.2%.

📊 Technical Analysis

Overall Trend: Data indicates that the currency is experiencing a sharp decline following 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 today.

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

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

🔍 Fundamental Factors

Initial Offering and Distribution: 900 million SOPH tokens (9% of total supply) were distributed through an Airdrop at launch, resulting in 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 following 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 see a gradual increase.