Somnia (SOMI) is playing harder to get than your Aunt Edna at a family reunion-after a big rally, it’s now doing the crypto equivalent of slipping on a banana peel and tumbling down the price stairs. 🎭
Folks are sweating bullets because if SOMI keeps up this pratfall, it might just sidle under the $1.00 mark faster than you can say, “It’s good to be the king!”
Somnia Traders Take a Hysterical Hike
SOMI’s nosedive? It’s basically the open interest doing a disappearing act-like a magician who’s lost his rabbit. In 48 hours, it chopped off a whopping 51%, showing that traders are running for the exits, fearing liquidations like a bad punchline. 🏃♂️💨
Open interest tumbled from $116 million to $56 million, which is basically saying, “Thanks for coming, but the show’s over.” The once-raging party at the ATH now looks like a sad, lonely afterparty where nobody wants to DJ.
Craving more token tales with a pinch of drama? Subscribe to Editor Harsh Notariya’s Daily Crypto Newsletter-because misery loves company!
Despite this bearish slapstick, the bigger picture isn’t all doom and gloom. The Relative Strength Index (RSI) is holding steady above 50.0-kind of like a stubborn extra in a movie who refuses to leave the scene. 👀 This means SOMI still has some love from the crowd backstage, even if the opening act flopped.
If RSI keeps playing hero above 50.0, SOMI might dodge the pratfall and keep the show on the road. Sure, the plunge in open interest is a bummer, but the market’s still waving pom-poms in hopes of a comeback worthy of an encore.
SOMI Price: The Rocky Sequel Might Just Surprise Us
Right now, SOMI is trading at $1.19 after dropping nearly 18% in 24 hours-which is like your favorite nightclub losing its best dancer right before midnight. It’s teetering at a $1.03 support line, and if it crashes through, expect some serious booing from the bears.
If SOMI trips below $1.00, it’s a slippery slope down to $0.57 faster than you can shout “Springtime for Hitler!”-except here, the villain is bearish pressure, not Broadway controversy.
But hey, if the token finds some spunk and bounces back, we could see $1.44-a comeback story so sweet it might bring a tear to Buster Keaton’s eye. Bounce past that, and we’re talking about $1.90 to the moon, folks! Investors would start throwing confetti, and bearish rumors would get the boot.
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2025-09-10 15:40