Sophon (SOPH) – Analysis and trading strategy on 01/06/2025
Current price: $0.0483 USD
24h volatility: -8.91%
24h trading volume: $132.91 million USD
Market capitalization: $95.87 million USD
Circulating supply: 2 billion SOPH
Max supply: 10 billion SOPH
Analysis time frame: 4 hours and daily     
Technical Analysis
• Short-term trend: SOPH is in a downtrend after the airdrop and listing on major exchanges.
• Technical indicators: RSI on the 4h frame is at 35, indicating the market is in the oversold zone. MACD gives a strong sell signal.
• Trading volume: Surged, indicating significant interest from investors, but also reflects high volatility.
• Price pattern: SOPH is forming a “descending triangle” pattern, which typically signals a downtrend if support is broken.
Short-term trading strategy
• Long order: Entry: $0.045 – TP: $0.055 – SL: $0.040 – Success probability: 60%
• Short order: Entry: $0.050 – TP: $0.040 – SL: $0.055 – Success probability: 65%
Market warnings
• Risk: If SOPH breaks support at $0.045, it may drop to the $0.040–$0.035 range.
• Note: Need to closely monitor the volatility of BTC and ETH, as they may impact the trend of SOPH.
If you find it useful, please leave a like to support the author. Want to trade SOPH? Click on the chart below to place an order directly on Binance.
