SOMI +2092.98% in 24 Hours on Strong Market Momentum

On SEP 6 2025, SOMI experienced a dramatic rise, increasing by 2092.98% in 24 hours to reach $0.7005. Over the past week, the asset surged by 4233.12%, marking one of the most significant short-term movements in its trading history. This momentum continued across both monthly and annual timeframes, with the 1-month and 1-year performance also showing identical 4233.12% gains. The recent price action reflects heightened interest in the asset, driven by speculative buying and a lack of immediate selling pressure.

SOMI’s recent performance has attracted attention from traders and analysts alike, with many pointing to strong on-chain activity and growing social media sentiment as possible catalysts. The absence of bearish indicators in key technical analysis metrics further supports the continuation of the upward trend. Price action over the past seven days shows a consistent pattern of higher highs and higher lows, indicating a clear bullish bias. This trend has been reinforced by a narrowing range of volatility, suggesting that the asset is consolidating its gains before potentially breaking out further.

Technical indicators also confirm a bullish outlook. The RSI has moved into overbought territory, signaling strong upward momentum without signs of exhaustion. Meanwhile, the MACD has shown increasing positive divergence, reinforcing the idea that the upward trend is accelerating. The 50-day and 200-day moving averages are aligned in a bullish configuration, indicating strong support for the current price level.

Backtest Hypothesis

The strong technical signals have prompted the development of a backtesting strategy centered on the convergence of RSI and MACD indicators. The hypothesis is that when RSI crosses above 50 and MACD turns positive, a long position can be entered with a stop-loss placed below the most recent support level. The target is set at the next resistance level or a 15% gain, whichever comes first. This strategy aims to capture the momentum of early trend formation without exposure to overextended corrections. The recent performance of SOMI aligns with the assumptions of the backtest, providing a real-time case study for the model’s effectiveness.