SOMI -19.52% in 24 Hours Amid Sharp Volatility

On SEP 12 2025, SOMI experienced a significant decline, dropping by 19.52% within 24 hours to settle at $0.9764. Over the past week, the token fell by 4132.58%, reflecting a sharp reversal in momentum. However, over a one-month and one-year horizon, it posted a substantial gain of 9751.83%, underscoring the high volatility and long-term resilience of the asset.

The movement has drawn attention from investors and analysts, many of whom are reviewing the broader implications of the token's performance. A recent report indicated that the sell-off may have been triggered by a combination of reduced liquidity and shifting market sentiment, though no formal statements have been released by the project team or related entities.

Technical indicators suggest the token is currently in a bearish phase, with key support levels under pressure. Moving averages across major timeframes are showing a downward trend, and the Relative Strength Index (RSI) is in oversold territory, potentially signaling an increased likelihood of a short-term bounce. However, the dominance of bearish momentum indicators indicates caution for near-term buyers.

Analysts project that if key support levels at $0.90 and $0.80 hold, the token could consolidate for a brief period before potentially resuming its longer-term upward trend. On the other hand, a breakdown below $0.90 could accelerate the decline, pushing the token toward lower levels. Investors are advised to closely monitor volume patterns and on-chain activity for signs of accumulation or distribution.

Backtest Hypothesis
A backtesting strategy has been proposed to evaluate the token's historical price action in relation to key technical indicators. The strategy aims to simulate trades based on predefined entry and exit signals derived from moving averages and RSI levels. The hypothesis is that a rules-based approach using these indicators could have generated profits during periods of sharp volatility while minimizing exposure during downtrends. The backtest will focus on the asset’s behavior over the past year, with the assumption that historical patterns may provide a useful framework for future decision-making.