SoundHound AI stock falls 3.09% as sellers keep downward pressure below $7.04 resistance

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SoundHound AI drops 3.09% today

Highlights

SOUN/USD remains under pressure as it trades below key moving averages, indicating persistent bearish sentiment across all timeframes.
Momentum and oscillator signals broadly align bearish, with only isolated buying interest providing limited counterbalance to the downside trend.
Anticipated price action favors a high probability of further declines, with a short-term trading range expected between $6.67 and $7.15.

Broad technical weakness persists below cluster of resistance levels

SOUN is currently trading below the hourly MA-20 level at $7 and the MA-50 at $7.04, as well as under the daily MA-200 at $10.94. The Ichimoku Kijun on the same time frame sits at $7.04, acting as immediate resistance, while support is established near $6.67. Momentum is weak, with the MACD issuing a Strong Sell and the Awesome Oscillator signaling Sell, while the ADX remains Neutral. The RSI stands at 47.12 and signals a Sell, joined by Stoch RSI also pointing to further downside; the CCI, however, is Neutral. Only Bull/Bear Power currently shows a Buy, indicating some buyer presence and creating a divergence with the other technical signals.

Further losses likely as $7.04 resistance caps rebound potential

In the coming days, SOUN is expected to fluctuate within a typical volatility band of $6.67 to $7.15. The probability of further downside is high, with a limited likelihood of a sustained rebound. Price may consolidate in a sideways corridor, with the bullish scenario triggered only if resistance at $7.04 is cleared, and a bearish extension likely if support at $6.67 is breached.

Anton Kharitonov, expert at Traders Union, sees SoundHound AI trading in a technically weak position. Key indicators are pointing to more downside, with resistance at $7.04 holding firm and support around $6.67. Momentum remains negative, and price is stuck under all important moving averages. "Until SOUN regains the $7.04 level, I see little reason to expect a bullish reversal here."

Earlier, analysts noted that persistent bearish momentum and selling pressure dominated the outlook for SoundHound AI. The current confluence of weak momentum signals and resistance at $7.04 reinforces this negative bias, making a breakdown below $6.67 the primary risk to monitor in the near term.

Source of Data: SOUN Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.