Market Overview for Somnia/Tether (SOMIUSDT) on 2025-11-13

Summary
• Price opened at $0.3693, reached a high of $0.3755, and closed at $0.3643 with moderate volatility.
• High turnover of $738,347.3 confirmed the morning rally but failed to hold gains.
• Key support at $0.364–$0.365 was tested twice, while resistance held above $0.370.

Somnia/Tether (SOMIUSDT) opened at $0.3693 on 2025-11-12 at 12:00 ET and closed at $0.3643 on 2025-11-13 at 12:00 ET, reaching a high of $0.3755 and a low of $0.3548. Total volume amounted to 5,984,705.9, while notional turnover totaled approximately $2,143,387.7, reflecting active but mixed trading conditions over the 24-hour period.

Structure & Formations

SOMIUSDT displayed a bearish bias over the 24-hour period, with the price forming a large bearish engulfing pattern near the morning high. A strong rejection at $0.3755 indicated a key resistance level, while support at $0.364–$0.365 appeared firm but tested multiple times. A doji pattern formed near $0.3652, signaling potential indecision among traders.

Moving Averages & MACD/RSI

On the 15-minute chart, the price closed below the 20-period (SMA 20) and 50-period (SMA 50) moving averages, suggesting downward momentum. MACD remained negative, with a bearish crossover observed mid-day, supporting a continuation of the decline. RSI hovered near 50, indicating neutral momentum. On the daily chart, the 50-period SMA is at $0.366, which may act as a pivot point in the near term.

Bollinger Bands & Volatility

The price spent much of the session outside the upper Bollinger Band at $0.370–$0.375, indicating high volatility during the morning push. A contraction occurred in the late hours, with the price settling within the bands at $0.362–$0.368. This suggests a possible consolidation period ahead.

Volume & Turnover

Volume surged to $738,347.3 during the morning rally, coinciding with a $0.3652–$0.3755 price expansion. However, volume declined significantly in the afternoon, confirming a lack of follow-through. Turnover was generally aligned with price movement, with no notable divergences observed.

Fibonacci Retracements

Key Fibonacci levels applied to the recent $0.3548–$0.3755 swing suggest 61.8% at $0.3647 and 38.2% at $0.3677. The price briefly tested 61.8% support twice, with a potential test of 50% ($0.3651) expected in the next 24 hours.

Backtest Hypothesis

A potential backtest strategy could involve detecting the “Doji Star” candlestick pattern—a small real body following a long candle that gaps—on daily charts. Once detected, a 3-day holding strategy could be executed, testing the effectiveness of the signal in capturing reversals. Given the appearance of a doji near $0.3652 and the current bearish momentum, this pattern may provide a sell signal for a short-term trade.

A chart of the 24-hour 15-minute price action, including key support at $0.364–$0.365, resistance at $0.370–$0.375, and the doji pattern at $0.3652, would illustrate the volatility and potential reversal signal.

An overlay of Bollinger Bands, moving averages (20 and 50), and RSI levels would highlight the bearish bias and the consolidation period observed in the late hours of the session.