Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Sofi Stock (NASDAQ: SOFI) is up by 5.06% in a single day ahead of Quarterly Earnings.</a> </li> 
 <li> <span>2</span> <a>Sofi stock price sustained above the 50-day and 200-day EMA.</a> </li> 
 <li> <span>3</span> <a>Sofi Technologies is expected to release its quarterly earnings on July 31, 2023.</a> </li> 
</ul> 
<p>Sofi stock price (NASDAQ: SOFI) rises 5.06% in a single day attempting to break out of the $10.00 hurdle. However, the sellers are active near the supply zone due to which prices are consolidating and a breakout is still awaited.&nbsp;</p> 
<p>Sofi stock price sustained above the 50-day and 200-day EMA showcasing an uptrend. Previously, the EMA displayed a golden crossover which further boosted the confidence of investors.&nbsp;</p> 
<p>At the beginning of June, Sofi Technologies <a href="https://www.thecoinrepublic.com/2023/07/26/despite-intraday-fall-sofi-stock-on-path-of-fresh-52-weeks-high/" rel="noopener noreferrer nofollow">stock</a> broke out of the $6.50 hurdle which triggered the rally. Later, prices began to rise by forming higher highs and rallied 54% approx in a short span of time.&nbsp;</p> 
<p>The bullish momentum in Sofi stock halted near $10.00. It displayed a Doji candle near $10.00 and prices triggered profit booking. After a minor correction, Sofi share price took support near $8.00 and entered into wide-range consolidation.&nbsp;</p> 
<p>Buyers tried multiple times to break out of the higher range but got rejected. Sofi <a href="https://www.thecoinrepublic.com/2023/07/26/despite-intraday-fall-sofi-stock-on-path-of-fresh-52-weeks-high/" rel="noopener noreferrer nofollow">Stock price </a>closed the previous session at $9.55 with an intraday rise of 5.06%. The market capitalization stands at $8.99 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-sofi-stock-rise-further-or-reverse-down-strong"><strong>Will Sofi Stock rise further or reverse down?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/3BhZFB7BkZbtVREtZ9t9Rx5vzEn-OVhVts6oN39qcabtEDkbgHgyESS52GRpOx-Fo1Ipx-_G_hVT8NHdZbAvwqy60oPCttaVPClwO8FLbdn_FqYasZc2yG5vmQJUs6ZN6XXsOare98QCFH52IUTCNA" alt="Sofi Stock: Will Sofi Stock breakout $10 hurdle after Earnings"> 
 </figure> 
</div> 
<p>NASDAQ: SOFI daily chart by<a href="https://www.tradingview.com/x/wZstixRl/" rel="noopener noreferrer nofollow"> TradingView</a></p> 
<p>Sofi Stock Price (NASDAQ: SOFI) performed well in the past few months and is up by 112% on a YTD basis. During the rally, the buying volume also increases substantially indicating some big investors might have injected money from lower levels.&nbsp;</p> 
<p>Till SOFI<a href="https://www.thecoinrepublic.com/2023/07/26/despite-intraday-fall-sofi-stock-on-path-of-fresh-52-weeks-high/" rel="noopener noreferrer nofollow"> </a>share sustained above $7.76 prices are expected to remain in bulls grip. Therefore, if any short-term correction triggers then the possibility of bounce back remains high.&nbsp;</p> 
<p>On the other hand, if the prices drop below $7.76 support the short-term trend will turn bearish. The technical analysis suggests Sofi share price is in a bullish grip and the possibility of continuing the momentum is high.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-sofi-stock-preparing-for-breakout-strong"><strong>SOFI Stock Preparing for Breakout</strong></h2>  
<div class="tradingview-widget-container"> 
 <div id="tradingview_7df70"></div> 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> 
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NASDAQ:SOFI",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "dark",
  "style": "1",
  "locale": "en",
  "toolbar_bg": "#f1f3f6",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;Supertrend"
  ],
  "container_id": "tradingview_7df70"
}
  );
  </script> 
</div>  
<p>SOFI share is trading with bullish cues and seems to be preparing for the breakout. Sofi Technologies will release the quarterly earnings on July 31, 2023. Market analysts estimate an EPS of -0.066 and revenue of $473.939 million.&nbsp;</p> 
<p>If the company succeeds to beat the estimates then a sharp rise in the Sofi share might be visible. However, if the company disappoints then Sofi share might face rejection from $10.00 and revert down to test the EMAs.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Sofi Stock Price (NASDAQ: SOFI) is trading near to the 52-week high ahead of quarterly earnings. If Sofi Technologies beat the analyst estimates then the probability of a $10.00 breakout will increase.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $10.76 and $13.68</li> 
 <li>Support levels: $7.00 and $6.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Sofi Stock: Will Sofi Stock breakout $10 hurdle after Earnings

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