Main areas for $SOPH
• Supply barrier: $0.03300
• Potential rise: $0.03320 → $0.03340 → $0.03360
• Collapse trigger: $0.03250 - Last line of defense
🔄 Two-way scenario:
📈 Recovery scenario:
Recovery $0.03300 =
• Take profit point 1: $0.03320
• Take profit point 2: $0.03340
• Take profit point 3: $0.03360
📉 Collapse path:
Loss $0.03250 =
• Take profit point 1: $0.03180
• Take profit point 2: $0.03100
🔎 High-risk area, waiting for confirmation. Trading volume and price structure will determine the next path.
The currency #SOPH is experiencing a downward trend in recent days, as its price has dropped from $0.03459 to $0.03265 in the past few days. This represents a decrease of about 5.6% in a short period, indicating ongoing selling pressure.
Factors affecting the price
News and events:
- Participation of $SOPH in the points festival on some platforms #Alpha , where rewards exceeding $500,000 have been distributed.
- Listing the currency in promotional campaigns
- Increase in trading volume in the "smart contract platforms" sector, which is the field to which the currency $SOPH belongs.
- Trading volume saw a significant increase at certain times, especially at 08:00 where it reached 8,746.87 units.
- Price resistance appears at the level of $0.034.
- The current support level seems to be at $0.0325.
In the short term, downward pressure on SOPH may continue with the potential to test new support levels. However, the currency's participation in multiple promotional campaigns and the growing interest in the smart contract platforms sector may provide price support in the medium term.
Tips for traders
- Monitoring key support and resistance levels (0.0325 and 0.034 dollars)
- Attention to news related to project development and new partnerships.
- Using available risk management tools on the Binance platform to protect against sudden fluctuations.
- Monitoring the overall market movement of cryptocurrencies, especially in the smart contract platforms sector.
Investors can benefit from the Binance platform to follow price developments of SOPH and take advantage of advanced trading tools to deal with market fluctuations.
The above information has been researched and summarized through personal effort and does not constitute investment advice without conducting your own research.