The recent rally in $SOPH has quickly turned into a steep correction, with sellers pushing price down nearly 26% in the latest move. After reaching the $0.00260 region, the token has given back much of its gains and is now trading around $0.00163.
The next area worth watching is $0.00115–$0.00130, where buyers could attempt to establish a stronger base. Price has not yet tested this lower demand zone, leaving room for further downside before a meaningful recovery develops.
A visit to this region would not necessarily invalidate the broader bullish possibility. If buyers step in and defend the zone, a rebound could put the $0.00250–$0.00260 supply area back on the radar.
Until then, the recent volatility calls for caution. The reaction around demand will be more important than chasing the current bounce, as a sustained recovery needs stronger buying pressure to take shape.
#SOPH
The next area worth watching is $0.00115–$0.00130, where buyers could attempt to establish a stronger base. Price has not yet tested this lower demand zone, leaving room for further downside before a meaningful recovery develops.
A visit to this region would not necessarily invalidate the broader bullish possibility. If buyers step in and defend the zone, a rebound could put the $0.00250–$0.00260 supply area back on the radar.
Until then, the recent volatility calls for caution. The reaction around demand will be more important than chasing the current bounce, as a sustained recovery needs stronger buying pressure to take shape.
#SOPH
