SONM means "Supercomputer Organized by Network Mining", it is a competitor of such projects as XEL, Golem, iExec RLC etc. I was an investor in this project in June 2016 at ICO, so can give you exact information about ICO price. On 3 ETH credited 8638.8 SNM tokens. In general, it was supposed to be 2824x3 = 8472 token, so 166.8 received a bonus (2%).
![SONM_ico.jpg]:(
This is my saved screenshot from the ICO event, the price of the ICO was 975/8684=11.2 cents. But in BTC it was 4917 satoshi.
Current price is 52 cents or 3570 satoshi, more info about project: https://coinmarketcap.com/currencies/sonm/ .
For some time after the ICO, I thought this project was fraud. However, I'm following the project, and now I'm sure that the guys are working and it's no worse than other startups from ICOs. The latest news is generally encouraging, so on January 13 in the blog of the project it was announced about joining the "OpenFog Consortium", organization founded by Cisco, Dell, Intel, Microsoft, ARM, and Princeton University which is dedicated to cloud and fog computing. More information here: SONM has joined The OpenFog Consortium. The working version, however, should only be released in August, according to roadmap, so there is a lot of time for pump and dump games! So at the moment I want to sell these coins to buy back cheaper (of course, if the price is higher than the price from ICO in bitcoins).
Let's move on to technical analysis:
The yellow rectangle shows the support area in which a cautious purchase is possible. However, we are definitely in the growing trend from the bottom in 800 sats. Therefore, I expect the resumption of growth in the zone of the green ellipse (the first goal) 5400-5700 sats. The second goal is not shown, this is 8000 sats (X10 from the bottom), which roughly corresponds to a round figure of 1 dollar. Waiting time for goals is two weeks.
P.S.
Do not forget that you are fully responsible for all your actions on the market. This post is not a recommendation to action, but an exchange of views, criticism is welcome!