$SOMI Analysis & Trade Setup
SOMI continues its explosive rise, now trading at $0.5716 (+45.82%), after rebounding strongly from a low of $0.3902 and nearing a high of $0.5940. The strong upward momentum on the 15-minute chart reflects strong buying pressure and an increase in volume, indicating sustained interest from the market.
If the price holds above the support area of $0.5600, the next push could aim to break above $0.5940, opening the door for a move towards $0.6200. However, traders should be cautious of profit-taking that may test the lower supports.
Trade Setup:
Entry: $0.5600–$0.5720
Target: $0.5900–$0.6200
Stop Loss: Below $0.5480
