$SOPH RECOVERY ATTEMPT OR DEAD CAT BOUNCE?
Current Price: $0.03931 (+0.79%)
MARKET OVERVIEW
SOPH is showing modest recovery with a +0.79% gain after recent heavy selling. The token is attempting to reclaim key levels around $0.04000 resistance. Volume spike indicates potential institutional interest, but overall trend remains bearish.
KEY LEVELS
RESISTANCE ZONES
Primary: $0.04000 - Critical psychological level
Secondary: $0.04100 - Major breakout zone
Strong: $0.04250 - 24h high and key barrier
SUPPORT ZONES
Immediate: $0.03923 - Current support floor
Key: $0.03820 - 24h low and major support
Major: $0.03700 - Next critical support zone
TRADE SETUPS
BULLISH SCENARIO
Entry: Break above $0.04000 with volume confirmation
Target 1: $0.04100 (+4.3%)
Target 2: $0.04200 (+6.8%)
Target 3: $0.04300 (+9.4%)
Stop Loss: $0.03850 (-2.1%)
BEARISH SCENARIO
Entry: Break below $0.03820 support
Target 1: $0.03700 (-5.9%)
Target 2: $0.03600 (-8.4%)
Target 3: $0.03500 (-11.0%)
Stop Loss: $0.04050 (+3.0%)
RISK MANAGEMENT
Position size: 1-2% of portfolio
Watch for rejection at $0.04000 resistance
Volume confirmation essential for breakouts
Consider scaling in on pullbacks
SOPH is at a critical juncture. A decisive break above $0.04000 could signal reversal, while failure here may lead to retest of $0.03820 lows. Current recovery appears fragile and needs volume support.