SoFi stock forecast: Breakout attempt at $19.35 resistance

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SoFi jumps 3.17% after Kraken deal

Highlights

SoFi Technologies and Kraken parent Payward have partnered to link SoFi's banking settlement system to Kraken's digital-asset infrastructure.
The arrangement allows Payward to join the SoFi Exchange Network and list SoFiUSD on Kraken, expanding SoFiUSD's presence and transaction volume.
SoFi stock advanced 3.17% to $18.41 with strong short-term bullish momentum, trading in an expected $17.47 to $19.35 range over the next several days.

Transaction volume and asset reach grow as SoFi, Kraken partner

SoFi Technologies and Payward, the parent company of Kraken, have formed a partnership to link SoFi's banking settlement network with Kraken's digital-asset infrastructure, according to Theblock. This deal enables Payward to join the SoFi Exchange Network and list SoFiUSD on Kraken, while also giving SoFi access to additional digital-asset liquidity through Kraken Prime. The linkage expands SoFi's settlement and digital-asset capabilities, directly increasing transactional volume and broadening SoFiUSD's presence in the digital-asset ecosystem.

Intraday buying prevails as overbought signals converge with resistance

On the hourly chart, SOFI is trading above the MA-20 at $17.65 and MA-50 at $18.29, but remains below the long-term MA-200 at $20.06 on the daily chart. The Ichimoku Kijun level at $17.81 acts as immediate support. ADX and RSI (60.2) suggest intraday buying momentum, and Bull/Bear Power indicates buyers are currently dominant. However, Stochastic RSI and CCI are signaling overbought conditions, and MACD remains Neutral. The Awesome Oscillator shows a strong buy signal, further confirming the active upward momentum.

Upside breakout likely as trading band narrows

Over the next 2 to 3 trading days, SOFI is expected to trade within a range of $17.47 to $19.35, with a high probability of further upside movement and a low probability of a downside move. The baseline scenario calls for SOFI consolidating within this band, but a breakout above $19.35 would set up a bullish extension. If price falls below the $17.47 support, a bearish scenario may develop.

Anton Kharitonov, expert at Traders Union, sees SoFi’s push into digital-asset settlement through its Kraken partnership as a solid expansion move, yet notes that price remains capped by the long-term MA-200. Technicals show buyers in control for now, but several indicators signal overbought conditions. The base case is consolidation between $17.47 and $19.35, with further upside only if resistance gives way. "Until $19.35 is solidly broken, I stay cautious and prefer to wait for a clearer setup."

Earlier, analysts noted that SoFi stock was consolidating with downside risks prevailing amid mixed technical momentum, despite ongoing growth initiatives. The new partnership with Kraken broadens SoFi's digital-asset exposure and sets the stage for traders to watch for a potential breakout above $19.35 as the next bullish trigger.

Source of Data: SOFI 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.