🔥 Analysis of $SOMI: Accumulation Signal for Price Increase!
The $SOMI K-line chart shows a strong reversal from the low of 0.198 (lowest in 24h), with a series of higher lows forming. Breaking above the upper Bollinger band and resistance at 0.229 is crucial to confirm the trend.
The accompanying green candles with a spike in volume confirm this move. The current price is maintaining above MA5 (0.217), MA10 (0.212), and MA20 (0.210), indicating upward momentum in the short term.
However, the price remains below MA120 (0.2553), signaling long-term bearish pressure. Recent volume analysis shows a noticeable increase in 1h candles when breaking above 0.205, reinforcing buying interest.
Capital Flow:
Positive spot cash flow across all time frames (1H: +176K, 24H: +336K), indicating strong underlying buying pressure for $SOMI.
Mixed signals in net contract cash flow, but recently recorded a positive level (1H: +470K, 4H: +509K). This indicates that futures traders are cautiously opening long positions, although there is still outflow in the long term.
$SOMI Trading Strategy:
Entry long: Look to enter a buy position when the price retests the broken resistance (now support) around 0.221, or when breaking above 0.229 with volume confirmation.
Stop Loss (SL): Set at 0.210, coinciding with MA20 support and the middle Bollinger band.
Target Price (TP): Targeting between 0.239 - 0.252, depending on the continuation of momentum.
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(SOMIUSDT)
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