Sonic Price Prediction: S Surges 5% But Traders Buy This New Meme Coin Offering Free Bitcoin

The Sonic price has surged 5% in the last 24 hours to trade at $0.8551 as of 7 a.m. EST on a 30% pump in trading volume to $384 million.

Sonic Price Breaks Bearish Channel, Eyes Rally Toward $1.00

The S/USDT 45-minute chart shows the market structure, transitioning from a strong bullish rally to a period of consolidation within a bearish channel. Initially, the price surged upward, reflecting strong buying momentum, before facing resistance and retracing into a downward-sloping channel.

However, the price shows signs of a potential breakout from the bearish channel, which could trigger a new upward movement. The current price is trading at $0.8561, with the support zone between $0.8145 and $0.8464, and the resistance zone near $1.00.

The bearish channel formation, characterized by lower highs and lower lows, suggested a temporary decline in momentum. However, recent price action indicates buyers are stepping in, attempting to push the price out of this structure. Several buy (“B”) and sell (“S”) signals have appeared within the channel, highlighting moments of accumulation and distribution.

SUSDT Analysis Source: Tradingview

Now, the price is testing the channel’s upper boundary, and a successful breakout could signal a trend reversal. If the price sustains above the $0.86 level, it could confirm a bullish breakout, opening the door for a rally toward $0.95 – $1.00.

On the other hand, if the breakout attempt fails, the price could drop back into the channel, leading to another retest of the support zone between $0.81 and $0.84.

The Relative Strength Index (RSI), a key momentum indicator, is currently 51.38, with its signal line sitting at 55.59. While this indicates a slight bullish bias, it does not yet signal strong overbought conditions.

If the RSI climbs above 60, it would further validate bullish momentum and suggest increasing buying pressure. The LuxAlgo trendline indicator also highlights trendline breaks, reinforcing the idea that a structural shift could be underway.

If the price successfully breaks and holds above $0.86, bullish momentum could accelerate, pushing the price toward the next resistance levels at $0.95 and $1.00.

However, if the price fails to maintain its breakout and drops back into the bearish channel, traders should prepare for a potential retest of the lower support zone at $0.81 – $0.84.

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