$SOMI is currently in a sideways to slightly bearish consolidation phase after a significant drop from 0.9713 to 0.7702.
The price is hovering around 0.8147, trading near its short-term moving averages (MA5, MA10).
RSI(6) is at 47.6337, indicating neutral momentum. The MACD shows a recent crossover, suggesting a potential shift in momentum but lacks strong conviction.
Volume is relatively low compared to the earlier volatile movements.
Market Prediction: The immediate prediction is for continued consolidation or slight bearish pressure. For a bullish reversal, the token needs to break above key resistance levels with significant volume. If it fails to hold current support, further downside is possible.
Trading Plan:
TP1: 0.8500 (Short-term rebound target, if consolidation breaks upwards)
TP2: 0.8900 (Stronger recovery target, near previous minor resistance)
Stop Loss: 0.7600 (Below recent low, to limit losses if downtrend resumes)