The Sonic token price is showing promising signs with the formation of a bullish ascending wedge. This technical setup, coupled with strong support in the low-value area, could pave the way for a significant uptrend if trading volumes confirm the movement.
For the past few weeks, the Sonic token (formerly Fantom) chart has been forming an ascending wedge pattern, a chart formation typically interpreted as a sign of accumulation before an expansion phase. The price currently remains in the lower part of this configuration, coinciding with the low value zone. This technical support, reinforced by trading volumes, seems to indicate that investors are ready to push Sonic’s price higher.
From a fundamental perspective, Sonic has been added as a blockchain to support US economic data, alongside Chainlink and Pyth. This development could attract institutional liquidity.
The next crucial step for Sonic will be to convincingly break through the $0.40 threshold, which corresponds to the top of the value zone. This level will act as a major resistance, but surpassing it would confirm the continuation of the bullish movement. Beyond this, an extension toward $0.50 then becomes the price target to monitor.
For this positive scenario to materialize, it will be essential that trading volumes support the price momentum. Without this confirmation through capital flows, Sonic risks stagnating within the wedge or even temporarily retreating before demand manifests again. The influx of liquidity will therefore be a key indicator to watch closely in the coming weeks.
Overall, Sonic’s technical picture appears to be shaping up promisingly. The consolidation within an ascending wedge, combined with solid support at the value zone, offers an interesting setup for investors looking to position themselves for a potential upcoming rally.
However, definitive validation of this bullish scenario will require confirmation through trading volumes. The coming days will therefore be crucial for monitoring Sonic’s price evolution.
From a liquidity perspective, Sonic appears to be several weeks away from a breakout, unless there’s a major catalyst. Only a break above the resistance at $0.358 would revive hopes. But even in case of a breakout, the resistance zone between $0.368 and $0.383 could slow its ascent. That’s why a DCA strategy over the coming weeks presents itself as the best solution.
Taking a step back, it’s even more important for S to reclaim its higher timeframe bullish trendline at $0.42 to then target up to $1.7 by the end of the bull run. This represents a potential increase of 445%.
Recommended Strategy: Adopt a progressive accumulation approach for SONIC:
How to Buy SONIC on Bitget
To invest in Sonic (SONIC) before its 445% explosion, follow these steps on Bitget:
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Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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