๐จ SOMI/USDT Update! ๐จ
Today, SOMI experienced a sharp decline of up to -50% and briefly touched the level of 0.4110. Transaction volume surged, indicating many traders are starting to eye this moment.
๐ This sharp decline could be a panic sell, butโฆ often after a significant dump, there is a chance for a technical rebound (price bounce).
๐ฅ Currently, the price has slightly bounced off the lowest support. If it can hold above 0.50, there is potential for a pullback to the area of 0.70 โ 1.00 USDT.
๐ Strategy options:
Short for those who believe the downward trend will continue.
Long (rebound play) for those willing to take short-term risks.
โก๏ธ Conclusion: The current condition is precarious, but the potential for a quick bounce is quite large. If entering, use a tight stop loss below 0.41 for safety.
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๐ So according to this chart, it is more appropriate to take long but scalping/short term as the price is already in a strong support area.
Today, SOMI experienced a sharp decline of up to -50% and briefly touched the level of 0.4110. Transaction volume surged, indicating many traders are starting to eye this moment.
๐ This sharp decline could be a panic sell, butโฆ often after a significant dump, there is a chance for a technical rebound (price bounce).
๐ฅ Currently, the price has slightly bounced off the lowest support. If it can hold above 0.50, there is potential for a pullback to the area of 0.70 โ 1.00 USDT.
๐ Strategy options:
Short for those who believe the downward trend will continue.
Long (rebound play) for those willing to take short-term risks.
โก๏ธ Conclusion: The current condition is precarious, but the potential for a quick bounce is quite large. If entering, use a tight stop loss below 0.41 for safety.
---
๐ So according to this chart, it is more appropriate to take long but scalping/short term as the price is already in a strong support area.
