Technical Analysis for $SOMI /USDT (1-hour timeframe) based on the chart you shared.
✅ Current Price:
$1.2726 (₹112.26)
24H High: $1.3054
24H Low: $0.7780
24H Volume (SOMI): 259.98M
24H Volume (USDT): 272.22M
📊 Price Action Summary:
Strong bullish momentum today with a +55.92% increase in price.
Price recently broke a key resistance level around $1.19 – $1.20 (orange line).
After breaking resistance, price surged to a high of $1.3054, indicating strong buying pressure.
Current price is consolidating slightly after the breakout.
📈 Support & Resistance Levels:
✅ Support Zone: $1.19 – $1.20 (previous resistance turned support).
✅ Next Major Resistance: $1.3054 (24H High).
✅ Further Resistance: $1.34 – $1.35 region (psychological resistance).
✅ Strong Support Below: $1.05 – $1.10 and $0.90 – $0.95 zones.
Volume:
Volume is strong, supporting the recent bullish breakout.
Candlestick Pattern:
Recent large green candle suggests a strong breakout, but the last few small candles could indicate short-term indecision.
🧱 Trading Plan🦅:
🔥👉 Bullish Scenario (Most Likely):
Hold above $1.20 support → Target next resistance at $1.3054, and then $1.34–$1.35.
If price holds $1.19–$1.20 support and builds up volume again, look for a long position.
🔥👉 Bearish Scenario (Risk Management):
If price falls below $1.19 and fails to recover → Possible retest of $1.05 support.
Strong stop-loss below $1.18 recommended to minimize downside risk.
💥🙏Conclusion:
Currently in a strong uptrend with bullish momentum.
Short-term: Possible minor pullback or consolidation near $1.27–$1.30 before further move up.
Good long opportunity if support holds around $1.20.
Watch volume carefully to confirm the strength of the trend continuation.
