$SOPH /USDT BEARISH BREAKDOWN IN PLAY – SHORT SETUP LOOMS BELOW KEY SUPPORT
Current Price: $0.04272
24h Change: -4.32%
Volume: 110.99M SOPH / 4.87M USDT
KEY LEVELS TO WATCH
Immediate Resistance: $0.04500
Major Resistance: $0.04580
Immediate Support: $0.04240 (recent low)
Major Support Zone: $0.04100 - $0.04000
$SOPH /USDT has shown a clear rejection near the $0.04500 resistance, followed by a consistent downtrend on the hourly timeframe. Price broke below minor support and is hovering just above the key support at $0.04240. Momentum remains bearish, suggesting further downside unless bulls reclaim control above $0.04500.
TRADE SETUP: SHORT ENTRY IDEA
Entry (Short): Below $0.04240
Target 1: $0.04120
Target 2: $0.04000
Stop Loss: $0.04350
Aggressive traders may enter on breakdown candle close below $0.04240. Conservative traders may wait for a retest and rejection of this level.
MARKET OUTLOOK
The recent volume spike combined with a lower high structure points to a potential continuation of the bearish trend, especially if the price sustains below $0.04240. Bulls need to reclaim and hold above $0.04500 for any bullish reversal confirmation.
RISK MANAGEMENT
Always use stop-loss and risk only 1-2% of your capital per trade. Don't chase; wait for confirmation. Maintain discipline and review your strategy consistently.
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