📉 $SOPH /USDT Market Update – Technical Analysis (5-min) chart

🗓️ Date: June 5, 2025

🚨 Current Price: $0.05343

📉 24H Change: -6.61%

📊 24H High: $0.06122

📊 24H Low: $0.05250

🔁 24H Volume: 424M SOPH / 23.85M USDT

🕯️ Candlestick Behavior:

The chart shows a recent bullish push that topped around $0.05402, followed by a short-term pullback. The 5-minute candles are currently mixed, indicating indecision in the market.

📊 Bollinger Bands Analysis (BOLL 20,2):

Three key lines are visible on the chart:

🔶 Upper Band (UP): $0.05390 – Currently acting as near resistance. Price rejected from this zone.

🟣 Middle Band (MB): $0.05346 – 20-period simple moving average. Price is hovering near this level.

🔵 Lower Band (DN): $0.05302 – Immediate support if the downtrend continues.

➡️ Current price sits between the middle and lower band, signaling potential short-term weakness and a bearish bias unless support holds

🧠 Price Outlook – Next 24 Hours:

If current conditions persist (low volume, weak momentum):

🔻 Support Zone: $0.0525 – Critical for holding the short-term trend.

🔺 Resistance Zone: $0.0545 – Break above could trigger recovery to $0.056+.

🔄 Expected Range: $0.0525 – $0.0545

A drop below $0.0525 may expose $0.0500, while a breakout above $0.0545 may renew bullish pressure.

📉 Correction or breakout?

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