$SOMI
I is pausing after a run, currently around 0.2713. I’m seeing a mixed-to-cautiously bullish setup — price is just under the 7-hour MA (~0.2740) but holding above the 25/99-hour MAs (~0.2708 / 0.2554). A clean break above ~0.28–0.30, with the recent high at 0.3045, could open room for 0.32–0.34. Immediate support sits near 0.268–0.265, with stronger support at the 99-hour MA around 0.255 and a deeper swing low at 0.216. Volume showed isolated buyer spikes during the rally but is moderate now. For bullish continuation, price needs to reclaim the 7-hour MA and break ~0.28 on expanding volume.
Trade Setup:
Entry Zone: I’m taking a long around 0.272–0.274 if price holds above the short-term MAs
Target Points:
Tp1: 0.30
Tp2: 0.32
Tp3: 0.34
Stop Loss: 0.265
Why This Setup Works:
I’m going long because $SOMI is holding key support levels and consolidating above important moving averages. The entry zone gives a favorable risk/reward, and a break above 0.28 with volume confirmation would likely attract buyers, pushing price toward the targets. The stop is placed below short-term support to limit risk while letting the trade run if bullish momentum continues.
I’m watching price closely and managing the trade as it moves through each target. 🔥
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