SOMI Chart Shows Smart Trading Indicators Pointing to $1.53 — Another Rally Next?
SOMI’s worth trades close to $1.30, up virtually 5% up to now 24 hours and 10% over the week. But don’t let these short-term good points idiot you. The token has been correcting and rebounding sharply inside small home windows.
Just yesterday, the Somnia worth briefly crossed $1.53 earlier than pulling again, but it nonetheless reveals each day good points. That form of motion displays persistent promoting strain, however on-chain alerts and chart patterns are actually flashing rebound indicators — the type that good merchants normally watch.
Smart Money and Bulls Keep Rebound Hypothesis Alive
On the 12-hour chart, the Smart Money Index (SMI), which tracks shopping for and promoting by good merchants, has quietly made a better high since September 13. This means that merchants who deal with fast rebounds are re-entering.
Still, affirmation is required: the SMI should climb from its present 1.19 towards 1.47, and ideally 1.71, to unlock a broader rally setup.
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At the identical time, the Bull-Bear Power Indicator, which measures the steadiness between shopping for (bulls) and promoting (bears), has stayed within the inexperienced.
This means bulls have remained stronger than bears even through the September 10–16 SOMI price pullback. Bearish power elevated, however bulls by no means absolutely misplaced management.
Now, inexperienced bullish energy candles are returning, displaying that patrons are regaining momentum. This, together with the good cash index getting a transfer on, furthers the rebound narrative.
SOMI Price Action and Hidden Bullishness Strengthen the Case
The 4-hour chart affords readability to seize the shorter-term strikes. SOMI is buying and selling inside an ascending triangle, a bullish construction that always alerts the continuation of an uptrend.
The token has already damaged previous one resistance at $1.28, with the following checkpoints for the SOMI price rebound sitting at $1.35 and $1.45.
A clear breakout above $1.53, the place previous bounces have been rejected, would imply that the rebound narrative turned into a rally setup. That would even deliver the all-time high narrative again into play. In that state of affairs, upside targets sit at $1.78 and $2.19, based mostly on Fibonacci extension ranges.
Adding credibility to the setup is the Relative Strength Index (RSI). Between September 14 and September 17, SOMI’s price shaped increased lows, whereas RSI made decrease lows. This hidden bullish divergence usually alerts development continuation, backing the rebound good trader-friendly idea and supporting the case for cautious optimism.
Still, dangers stay. The rebound speculation weakens if SOMI closes beneath $1.12, with a deeper slide potential towards $0.92. That may occur if good cash withdraws and bears take management of the SOMI worth motion.
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