SoFi Technologies stock declines as weak momentum intensifies short-term selling

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SoFi Technologies drops 3.13% to $15.76

SoFi Technologies (SOFI) stock is trading at $15.76, down 3.13% on the day. The price remains well below its key moving averages, reflecting continued downside momentum.

Highlights

SoFiUSD stablecoin became available on the Polygon blockchain, expanding digital asset functionality for over 17 million SoFi members.
The stablecoin's integration broadens SoFi Technologies' product ecosystem with additional user engagement within the SoFi app.
Shares of SoFi remain under broad selling pressure with strong bearish technical signals and a forecast trading range of $15.25 to $16.27.

Stablecoin network expansion broadens ecosystem amid sustained price pressure

SoFiUSD, the stablecoin issued by SoFi Bank, has expanded its network reach by becoming available on the Polygon blockchain alongside existing support for Ethereum and Solana, according to Phemex. The rollout enables over 17 million SoFi members to access stablecoin services directly within the SoFi app, widening the platform's digital asset functionality. While this development expands SoFi Technologies’ product ecosystem and offers new engagement channels for its user base, price action has remained under broader selling pressure.

Technical resistance and weak momentum limit reversal signals for SOFI

SOFI/USD is positioned below the MA-20 at $16.41, MA-50 at $16.51, and MA-200 at $17.41, with the Ichimoku Kijun acting as resistance at $16.44. Momentum indicators show continued weakness: both MACD and ADX register sell signals, and Bull/Bear Power stands at -0.21, reflecting clear intraday seller dominance. RSI remains neutral, while both Stoch RSI and CCI show oversold conditions, hinting at potential exhaustion in selling activity but not confirming a reversal. The Awesome Oscillator is neutral, providing no strong directional bias.

Range-bound action expected as rebound odds stay subdued

In the short term, SOFI is expected to consolidate within the $15.25 to $16.27 range, reflecting its current volatility band relative to recent price action. The probability of a rebound remains low unless the price can break decisively above resistance at $16.44, which would set up a bullish recovery scenario. By contrast, a move below support at $15.25 would reinforce the prevailing downtrend and likely invite further selling in the days ahead.

Previously it was reported that SoFiUSD the stablecoin issued by SoFi Bank, expanded its accessibility by launching on the Polygon blockchain, enabling seamless stablecoin transactions for SoFi's user base. Despite this product expansion, traders should monitor the $15.25 support level as a break below it could accelerate downside momentum in SoFi Technologies stock.