$SOPH Gaining Steam – Breakout Reloading or Bull Trap Ahead?
SOPH is trading at $0.03895, up a solid +15.07% in the past 24 hours. After a sharp rally to $0.04408, price pulled back and is now consolidating just above the breakout zone. Traders are eyeing this range for the next potential move.
Key Technical Levels:
• Resistance: $0.04080 – $0.04160
A move above this area may restart the rally and open the way for a new high.
• Support: $0.03820 – $0.03850
Holding this level is crucial for continuation. A breakdown could lead to a deeper dip.
Trade Setup:
Bullish Entry:
If price pushes above $0.04080
Target 1: $0.04200
Target 2: $0.04320
Target 3: $0.04480
Stop-loss: Below $0.03820
Bearish Entry:
If price breaks below $0.03820
Target 1: $0.03720
Target 2: $0.03600
Target 3: $0.03480
Stop-loss: Above $0.04050
Volume has cooled after the surge, but consolidation near key resistance is often a sign of strength. Watch for confirmation before taking a side.