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Summary
• Price declined sharply from 0.258 to 0.2435 with key support around 0.2428–0.244.
• Momentum weakened with RSI dipping below 30 and MACD bearish.
• Bollinger Bands expanded during the sell-off, indicating heightened volatility.
• Volume surged during the early morning selloff but has since moderated.
• A bullish engulfing pattern is forming near 0.2428, hinting at potential reversal.
The 24-hour session for Somnia/Tether (SOMIUSDT) began at 0.2557, peaked at 0.2602, and dipped to a low of 0.239 before closing at 0.2435 near the 12:00 ET mark. Total traded volume reached approximately 3,506,363.9 with notional turnover of 864,564.499 USD.
The candlestick structure shows a bearish breakdown after a brief rally in the first half of the session. A sharp decline started around 08:00 ET, dropping below key psychological levels. This move appears to have been supported by increased volume and bearish momentum signals.

Structure & Formations
The price action features several bearish patterns, including a large bearish engulfing pattern around the 0.2428 level. This suggests potential short-term support. A potential resistance zone appears at 0.246–0.247, where price previously stalled during a brief consolidation.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages have diverged sharply to the downside. On the daily chart, the 50/100/200-period moving averages are likely in a bearish alignment, reinforcing the downward bias.
MACD & RSI
The RSI has dipped below 30, signaling oversold conditions, but has yet to show a strong reversal. MACD remains bearish with a negative histogram and a downtrend in the line, confirming the prevailing bearish momentum.
Bollinger Bands
Bollinger Bands have expanded significantly during the sell-off phase, indicating rising volatility. Price has spent the last several hours near the lower band, which may reinforce the 0.2428–0.244 support range as a critical area to watch.
Volume & Turnover
Volume spiked during the early hours of the selloff, especially between 08:00 and 09:00 ET, confirming the bearish breakout. However, recent volume has been declining despite the continued drop, suggesting potential exhaustion or lack of conviction in the move lower.
Fibonacci Retracements
On the 5-minute chart, price has retraced to around 61.8% of the earlier bullish swing, which may now act as a support cluster. On the daily chart, key Fibonacci levels around 0.245 and 0.2425 could serve as potential turning points if the trend reverses.
Price may consolidate near 0.2428–0.244 in the near term, with the potential for a bullish reversal if RSI shows divergence and volume increases. Traders should remain cautious due to the uncertain market sentiment and potential for renewed volatility.
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