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SOMI Plunges 17% From Peak as Profit-Taking Accelerates
SOMI Plunges 17% From Peak as Profit-Taking Accelerates
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BTCCSquare news:
SOMI's rally has reversed sharply, with the token shedding 17% from its $1.90 high as traders cash out gains. The sell-off has pushed prices toward critical support at $1, with technical indicators flashing warning signs.
The Money FLOW Index (MFI) shows sustained capital outflows, while the 20-day EMA breach suggests weakening bullish momentum. Market structure now favors sellers, potentially opening the door for deeper corrections.
This pullback follows SOMI's explosive launch period, where early investors appear to be rotating profits. The token's ability to hold the $1 psychological level will be crucial in determining whether this is a healthy consolidation or the start of a more significant downturn.
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