SoFi (NASDAQ: SOFI) – Downtrend Tests SupportSoFi Technologies IncBATS:SOFIDEXWireNewsSOFI trades at ~$18.70 (down -0.35% intraday on 1H chart), locked in a multi-month corrective downtrend after topping near $32.72 in late 2025. The stock rallied steadily from mid-2025 lows (~$15–$16) to the $32+ peak in Q4 2025, fueled by fintech growth and user momentum, before a sharp reversal through December 2025–March 2026. Key observations: - Strong uptrend from July–November 2025 broke down decisively, forming a series of lower highs and lower lows. - Price has been drifting lower since the $20.90–$18.92 rejection zone, now consolidating in the $18.58–$18.92 band with the line hugging the lower boundary on elevated volume. - Momentum remains bearish below $18.92; no higher lows or reversal candle patterns have formed yet. Analytical buyer outlook: - Upside trigger: Strong close above $18.92–$20.90 (key resistance cluster) with volume confirmation — would signal potential reversal or short squeeze start. - Support to defend: Hold above $18.58–$18.70 to prevent breakdown toward $15.58 (prior low/target). - High retail interest/low-float setup means any positive catalyst (earnings surprise, product launch, macro relief) could trigger sharp volatility — but absent that, the structure stays corrective. Verdict: Deep pullback after parabolic run — still no bullish confirmation. Buyers need higher lows and volume surge above $18.92–$20.90 before committing. Risk of further downside remains if support fails.