Sonic price has been trapped in a downward channel for some time, but recent price action suggests it’s making a serious attempt to break free. The chart shown by World of Charts is a clear sign that S token is at the verge of of building momentum as the price pushes against its upper resistance boundary.
This breakout attempt comes at a critical juncture for the token, potentially signaling a major shift in market sentiment.
A key resistance level, marked by horizontal price action, stands as the primary obstacle for Sonic next move. This level has repeatedly rejected previous rally attempts, making it particularly significant.
According to World of Charts, clearing this resistance with conviction would be the first major confirmation of a trend reversal. The token needs to not only touch this level but close strongly above it to validate bullish momentum.
Path to $1 and Beyond
Should Sonic successfully break above the resistance zone, the path to $1 becomes increasingly plausible. The projected trajectory indicates a potential parabolic move rather than a gradual climb. World of Charts highlights that such a move could represent a 2x increase from current levels, making this a particularly attractive setup for traders watching the token.
Sonic Volume Will Tell the Story
While price action looks promising, volume will ultimately determine the legitimacy of any breakout. A genuine breakout should be accompanied by a significant increase in buying pressure.
Without this volume confirmation, any move above resistance risks becoming a false breakout, potentially trapping bullish traders.
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If S price fails to break resistance on the first attempt, traders should watch for a retest of lower support levels. These pullbacks often provide better entry opportunities before another breakout attempt. World of Charts notes that maintaining higher lows during any pullback would preserve the overall bullish structure.
A successful rally for Sonic token could have broader implications for related tokens in its ecosystem. The timing of this potential breakout coincides with increased interest in the sector, potentially amplifying buyer interest if early momentum catches
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