The analysis indicates that SoFi (SOFI) has experienced a breakdown below an ascending support profile on the daily chart, with multiple hourly candles confirming closes beneath this trendline. The current price is approximately $26.13. This breakdown follows a period of consolidation within a pennant formation, which included an attempted breakout above the $27.52 resistance level. This breakout was deemed a false signal due to low accompanying volume, leading to a reversal and subsequent downward pressure. The analyst highlights the $26.31 level, which was the ascending support, as critical. A sustained move below this point would reinforce a bearish outlook for the asset. The primary bearish target for this breakdown is identified at $25.00, a level that has historically demonstrated significance as both support and resistance. Further downside potential is noted towards $23.76 and $22.42. The analysis suggests that a quick reclaim of the $26.31 level, indicating a potential false breakdown, could trigger a bullish reversal, potentially propelling the price back towards the $27.52 resistance. The overall market, represented by SPY, is described as being in an uptrend with higher lows, although it has recently encountered selling pressure after reaching all-time highs around $696.09, showing a balance between buyer and seller activity. For SOFI, the immediate short-term technical indicators lean bearish, contingent on the inability of buyers to rapidly recover the broken support levels.