Sonic crypto price continues to hold $0.30 support with multiple technical confluences. Consolidation suggests accumulation, with the next resistance levels at $0.35 and $0.40 in focus for continuation higher.

Sonic Token (S) has been stabilizing around $0.30, a high timeframe level that aligns with several major technical factors. Although the token has not yet seen acceleration in price, its ability to sustain support suggests accumulation is taking place. Confidence in the project has also grown, as Sonic Labs, a Fantom spin-off, won strong community support for its first governance proposal. If confirmed with stronger participation, this consolidation could resolve into a bullish breakout, setting up the next upward rotation.

Sonic price key technical points

• Major Support at $0.30: Confluence of 0.618 Fibonacci retracement, point of control, and value area low.
• Volume Profile Weakness: Declining volume must reverse with bullish inflows to sustain breakout momentum.
• Targets at $0.35 and $0.40: Swing high and resistance zones in focus for short-term continuation.

The $0.30 level remains the foundation of Sonic Token’s current price structure. This support zone is not only technical but also psychological, as buyers have consistently stepped in to defend it. The combination of Fibonacci retracement levels, value area low, and the point of control all overlapping here creates a strong cluster of demand that bolsters the bullish case.

Despi

Go to Source to See Full Article
Author: Aziz Zamani