$SOMI 🔎 Technical Observations:

1. Price Action

• Current price: 1.0049

• Recent high: 1.1164 (strong rejection seen there).

• Price is consolidating near the middle Bollinger Band (1.0186) and hasn’t broken down strongly.

2. Bollinger Bands

• Price is still above the middle band support (1.0186), showing buyers defending.

• If it holds above 1.00 – 0.99 zone, it can bounce back toward the upper band.

3. Trend Strength

• Massive recent rally from 0.7363 → 1.1164 (+50% move).

• Current move looks like a healthy pullback, not a full reversal (yet).

4. Order Book

• Bids: 64.6% vs Asks: 35.3% → buyers clearly stronger at the moment.

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📈 Long Trade Signal

• Entry: 1.0040 – 1.0060 (current support zone).

• Target 1: 1.045 (minor resistance).

• Target 2: 1.090 – 1.116 (previous high area).

• Stop-Loss: 0.985 (below support & Bollinger midline).

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✅ This setup is good for a long trade, but only if price stays above 1.00. If it breaks below and closes under 0.985, the bullish structure will weaken.#somi