$SOMI /FDUSD MARKET ANALYSIS

$SOMI /FDUSD has recently shown upward momentum, moving from the support zone near 0.2164 toward resistance at 0.2340. The buying pressure is evident from increased trading volume, reflecting renewed interest from traders. Short-term pullbacks are occurring around 0.2304, indicating cautious profit-taking. The market demonstrates higher highs and higher lows, suggesting a continuation of the bullish trend. However, temporary retracements toward the support level highlight the presence of sellers at key price points. Overall, price action is oscillating within a defined range, providing opportunities for strategic entries. Traders are closely watching the 0.2340 level for potential breakouts. Below 0.2164, a short-term decline could be expected. Momentum indicators support a cautiously bullish outlook. Monitoring volume and price action at resistance and support is key for timing trades.

Trade Setup:

Long Entry: 0.2304 – 0.2320

Targets (TP): 0.2340 / 0.2506