Sonic (S) Approaches Critical Resistance – Is an Upside Breakout Imminent?
Market Overview: The cryptocurrency market is experiencing a positive trend, with Bitcoin and Ethereum prices rising over 11% in the past week, and altcoins like Sonic (S) showing bullish signals.
Technical Analysis of Sonic (S): Sonic (S) is forming a falling wedge pattern, indicating a potential bullish reversal, with current resistance at $0.2787 and a critical level at the 50-day moving average of $0.2973 for a possible breakout.
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Technical Analysis for SONIC
Technical Sentiment Analysis for Sonic SVM (SONIC) As of , Sonic SVM (SONIC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SONIC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SONIC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sonic SVM (SONIC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0137 | 0.0239 | 0.034 | 0.0441 | 0.0542 | 0.0644 | 0.0744 |
| Fibonacci | 0.0239 | 0.0316 | 0.0364 | 0.0441 | 0.0519 | 0.0566 | 0.0644 |
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