$SOPH being “bearish” here is exactly why I’m bullish.
Yeah, it’s up 21.8% to $0.001900, but the chart still sits below the 20D and 50D MAs. Most traders see that and start shorting. That’s the trap.
Shorts are paying 0.238% funding. Volume hit $2.30M, or 2.6x the 20-day average, while the last 4h ripped 18.1%. That’s not dead-cat volume. That’s positioning getting squeezed. 🔥
RSI is only 54. Not overheated.
At $0.002, I’d take some risk off and watch whether momentum holds. $BNB taught this market one thing: the cleanest moves start while the chart still looks ugly. 📈
#SOPH #Web3
Yeah, it’s up 21.8% to $0.001900, but the chart still sits below the 20D and 50D MAs. Most traders see that and start shorting. That’s the trap.
Shorts are paying 0.238% funding. Volume hit $2.30M, or 2.6x the 20-day average, while the last 4h ripped 18.1%. That’s not dead-cat volume. That’s positioning getting squeezed. 🔥
RSI is only 54. Not overheated.
At $0.002, I’d take some risk off and watch whether momentum holds. $BNB taught this market one thing: the cleanest moves start while the chart still looks ugly. 📈
#SOPH #Web3