$SOPH BREAKOUT OR PULLBACK? – Faces Crucial Test Ahead
$SOPH is currently trading at $0.05382, showing signs of slowing after a strong upward move. Price is hovering near local resistance, with bulls attempting to hold momentum—but the next few candles could confirm a breakout or mark the start of a pullback.
Key Technical Levels:
• Immediate Resistance: $0.05543 – A clean break above this could trigger bullish continuation.
• Immediate Support: $0.05300 – Holding this keeps bulls in control short-term.
• Secondary Supports:
• $0.05220
• $0.05100
Trade Setup – Prepare for Volatility
Bullish Scenario:
• Entry: On confirmed breakout above $0.05543
• Targets:
TP1: $0.05720
TP2: $0.05890
TP3: $0.06000
• Stop-Loss: Below $0.05300
Bearish Scenario:
• Entry: On breakdown below $0.05300
• Targets:
TP1: $0.05220
TP2: $0.05100
• Stop-Loss: Above $0.05450
Watch closely—a decisive move is coming. Be ready with tight stop-loss management.