The Sonic token (S) continues to face pressure at the $0.80 level, though the switch to native USDC could change its trajectory.
Current Price Levels and Market Barriers
Sonic is trading at around $0.51, below key support zones. At the $0.80 mark, a significant volume of tokens (approximately 1.22 billion S tokens) is held at a loss, creating a strong sell wall. The Chaikin Money Flow (CMF) reading of -0.12 and RSI below 50 indicate declining buying pressure.
Native USDC Transition on May 6
Sonic is set to transition from bridged USDC to native USDC on May 6. This upgrade promises to enhance liquidity by integrating Circle's USDC issuance directly on the Sonic blockchain, utilizing Circle's Cross-Chain Transfer Protocol V2 for secure and fast transfers.
Price Forecasts and Potential Scenarios
Analysts indicate that the price may fall to support levels at $0.45 or even lower. However, with the upcoming native USDC transition, there is potential for prices to rise toward the $0.75–$0.80 range, but this will require substantial trading volume and institutional inflows.
Despite current bearish signals, the transition to native USDC creates long-term opportunities for Sonic, while short-term volatility remains high.
