SOFI · 1D · DOWNTREND
Price is breaking down hard today — sitting at 16.55 with every MA stacked above it, and the EMA 9/20/50/200 all declining into price from the 17.05–17.86 zone. The pattern since the August spike high around 19.50 is a clear sequence of lower highs and lower lows, and today's session is printing what looks like a fresh leg lower with volume picking up. The Mastercard stablecoin news gave SOFI a 3% pop Tuesday and price is already fading it Wednesday morning — that's a red flag. When a legitimate catalyst gets sold into within 24 hours, the path of least resistance is still lower. I'm not buying this dip — I want to see this leg exhaust itself and form a base before I touch it long.
SHORT SCENARIO
Confirmation
16.50
Price closing below 16.50 confirms the breakdown continuation, with all MAs declining above and no support visible until the 15.50 zone.
Invalidation
9
Structure negated on a close back above the EMA 9, around 17.05 today and falling.
Target 1
15.50
Swing low area from the late July flush visible on this chart.
Target 2
15.00
Round number and the approximate level of the July capitulation wick low visible on the chart.
Risk/Reward
(16.50 − 15.50) / (17.05 − 16.50) = 1.0 / 0.55 ≈ 1.8:1
Resistance: 17.05 (declining EMA 9, today's approximate level) / 17.38–17.57 (EMA 20/50 cluster, declining)
Support: 15.50 (prior swing low from this chart) / 15.00 (round number / wick extreme)
This is not financial advice. Content is AI-generated.