The Sonic token is hitting recent price lows and facing further downward threats. The market structure remains bearish, and an analysis of current technical indicators shows significant decisions ahead in the coming weeks.
Current Market Situation of Sonic
Sonic is trading at its lowest level of the year, having breached the previous swing low, which was an important support level. The current situation puts the token at a risk point where bulls must actively intervene to avoid further declines. The current trend, marked by lower highs and lower lows, paints a fragile picture.
Key Technical Points
The swing low break signals weakness: price is now trading below key yearly support, increasing downside risk. A recovery could target $0.49, but if current positions come under pressure, the next target may be at $0.12 based on Fibonacci extension. Currently, there is no volume support, reducing the likelihood of a reversal without significant demand.
Expectations for Price Action
Sonic is at a critical inflection point that determines its future. Bulls need to quickly reclaim the support zone to prevent a deeper collapse. If support fails, expect price to target the $0.12 region in the coming weeks. Until volume returns, bearish momentum continues to prevail.
The current situation with the Sonic token calls for attention to bullish actions. A failure at the support level could lead to significant losses, yet a recovery may provide a chance for growth.
