PROM dropped from the $7.89 high, built a base around $5, and now buyers are pushing it back toward the key resistance zone. 📍 Support: $5.50–5.60 📍 Stronger support: $5.00–5.20 📍 Resistance: $5.90–6.00 🎯 Targets: $6.40 → $7.24 → $7.89
I’m watching $6 closely.
Break and hold above it, and PROM could start looking interesting again.
$SOPH IS BUILDING AGAIN $0.0040 → $0.00473 After that brutal correction, buyers are slowly stepping back in. $0.0054 = key resistance. Break it and hold → $0.0058 → $0.0065 → $0.0075 🔥
August CPI drops today, and I'm leaning bullish into it. Here's my reasoning.
Yes, the setup looks hawkish on paper. Nonfarm payrolls smashed expectations (162K vs ~56K forecast), and yesterday's PPI came in hot at 5.4% annually. That's usually the recipe for “the Fed hikes, risk assets get hit.”
But here's why I'm not worried.
CPI has actually been cooling for two straight months... 3.4% in July, down from 3.5% in June. Even with a hot PPI print, consumer-facing inflation has shown a downward trend, and the Fed's preferred gauge, PCE, tends to matter more to them than a single CPI headline.
My read: even if today's number comes in slightly hot, it likely won't be hot enough to create a much bigger hawkish shock than the market is already pricing in.
And if it comes in in-line or cooler, that's a green light for risk assets, including crypto, going into next week's FOMC meeting.