$SOPH /USDC: Price Watch Update 📉

Current Price: $0.04052 (down 3.36% / Rs11.46)

Key Observations:

* Recent Pullback: SOPH has experienced a significant pullback from its 24h high of $0.04273, now trading closer to its 24h low of $0.03972.

* Moving Averages: The 7-period MA ($0.04020) is below both the 25-period MA ($0.04070) and the 99-period MA ($0.04179), indicating short-term bearish momentum.

* Volume: We've observed a decrease in selling volume recently, with a slight uptick in buying volume attempting to form a base.

What to Watch For:

* Can SOPH find strong support around the 24h low and initiate a bounce?

* Will sustained buying pressure push the price back above the short-term moving averages?

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