SOMI Surges 146.97% Within 24 Hours as Market Experiences Intense Short-Term Fluctuations
On SEP 18 2025,
Recently, the token broke through an important resistance barrier after a lengthy stretch of sideways trading. Market experts have interpreted this breakout as a bullish sign, indicating that buyers could be regaining influence. Nevertheless, the substantial pullback during the week has raised questions about whether the rally can endure. The 24-hour jump might only be a brief rebound, so traders should approach with caution given the token's frequent and sharp fluctuations.
The latest price movements have drawn interest from technical analysts, who are monitoring its relationship with major moving averages and Fibonacci retracement points. Both the 50-day and 200-day moving averages are currently positioned in a way that favors continued upward movement. The token’s price has also returned to a relevant Fibonacci level, which could act as immediate support or resistance. These technical signals imply that the asset remains in a bullish phase, despite the recent steep decline over the week.
Backtest Hypothesis
One suggested backtesting method is to initiate a long trade when the price clears the resistance established on SEP 18, especially if accompanied by a bullish RSI divergence. The exit plan would involve a stop-loss just below the next Fibonacci retracement and taking profits near the last record high, with trailing stops used to secure gains during positive momentum. This strategy aims to determine whether the latest breakout signals ongoing long-term strength or is merely a short-lived reaction to market volatility.
