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Bullish
Premium Analysis
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Bullish🔥$SOMI Strongly Bullish but overbought, I'd prepare for Long on dip
• Pin bar rejection at $0.2919 resistance followed by consolidation above MA5.
• 1h candle that hit $0.2919 had enormous volume (141M vs avg 5-10M), indicating possible exhaustion.
Massive volume spike (645M) during the 46% rally confirms institutional participation. Recent 1h candles show volume declining during pullbacks – a bullish sign.
Entry long $SOMI :
• Ideal entry: 0.265-0.272 (MA5/BOLL mid-band confluence)
• Aggressive entry: Break above 0.2919 with volume confirmation
Stop Loss: 0.256-0.262 area, just below MA10
Target Levels $SOMI
Primary: 0.2994 (Resistance level)
Secondary: 0.3335 (Next resistance)
Support me just Click below to Trade 👇 Cheers
{future}(SOMIUSDT)
A break below MA10 (0.2471) would invalidate the bullish thesis. #somi #somiusdt #Somnia
• Pin bar rejection at $0.2919 resistance followed by consolidation above MA5.
• 1h candle that hit $0.2919 had enormous volume (141M vs avg 5-10M), indicating possible exhaustion.
Massive volume spike (645M) during the 46% rally confirms institutional participation. Recent 1h candles show volume declining during pullbacks – a bullish sign.
Entry long $SOMI :
• Ideal entry: 0.265-0.272 (MA5/BOLL mid-band confluence)
• Aggressive entry: Break above 0.2919 with volume confirmation
Stop Loss: 0.256-0.262 area, just below MA10
Target Levels $SOMI
Primary: 0.2994 (Resistance level)
Secondary: 0.3335 (Next resistance)
Support me just Click below to Trade 👇 Cheers
{future}(SOMIUSDT)
A break below MA10 (0.2471) would invalidate the bullish thesis. #somi #somiusdt #Somnia