Somnia (SOMI) price prediction: short-term may face pullback risk, potential range 1-1.1 dollars

Despite the long-term structure of Somnia (SOMI) remaining bullish, it has formed a bearish "descending triangle" pattern over the past few days. Although the price has risen within 24 hours, both daily volume and bullish momentum have weakened. Technical Analysis and liquidation charts indicate that SOMI may face pullback risks in the short term, with the price possibly retracing to the key demand zone of $1 to $1.1.

Hidden Bearish Signals Behind the Price Rise

As of the writing of this article, the price of Somnia (SOMI) has risen by 3.75% in the last 24 hours, but its daily volume has decreased by nearly 10%. This divergence between price and volume, along with the triangular pattern formed over the past few days, has sent complex signals to the market. Although the long-term trend of SOMI remains bullish on the four-hour chart, there is a clear resistance above $1.15, and the price is pulling back to the "Fair Value Gap" range of $1.06 to $1.22.

Technical Analysis: Short-term Bearish Patterns and Key Prices

(Source: TradingView)

From a technical perspective, SOMI appears to be forming a "descending triangle" pattern on the one-hour chart. Although this pattern typically occurs in a downtrend, its appearance after a bullish move indicates significant short-term selling pressure in the current market. Despite the 1.2 area being defended, indicators such as the "Awesome Oscillator" suggest that bullish momentum is weakening.

In addition, on-chain data also supports the view of a short-term pullback. The liquidation chart shows that the long liquidation volume up to $1.2 is slightly greater than the short liquidation volume, indicating that the price may dip to $1.2 or lower in the short term. The OBV (On-Balance Volume) indicator on the hourly chart has also broken below recent lows, suggesting that sellers have the upper hand in the short term.

Future Outlook and Key Price Levels

According to the analysis, if the selling pressure continues, SOMI may be forced to pull back to the demand zone of 1 to 1.1 dollars. For traders, the area of 1.15 to 1.2 dollars may present a potential buying opportunity. However, if the price falls below 1 dollar, it will invalidate the bullish argument, which could be a key signal for further decline.

Conclusion

Somnia (SOMI)'s recent performance has provided investors with a complex signal. Although its long-term prospects remain optimistic, short-term technical patterns and liquidation data indicate a risk of pullback. In the next 24-48 hours, the market will test whether the bulls can successfully hold the key support level and regain upward momentum. For investors, closely monitoring the key psychological level of 1 dollar will be an important basis for judging its future trend.