Sonic (S) token has caught the eye of traders after a powerful bullish move from support. With price now consolidating under key resistance, the next breakout could be just around the corner

Sonic (S) token has shown some serious momentum lately, catching the attention of traders with a powerful bullish engulfing candle.

Sonic (S) token has shown some serious momentum, catching the attention of traders with a powerful bullish engulfing candle.

As price grinds against key technical levels, the next few moves could be crucial in determining whether we see continuation—or signs of a sina.

What is the chart saying?Recently, the price action on Sonic Token has been notably rapid. It began with a strong bullish engulfing candle that formed at the value area low.

This region also coincided with daily support around $0.39, adding weight to the move. The surge was met with rising volume, confirming interest and demand at that level.

Following the push, price is now seen consolidating at the point of control—typically a sign that the market is building a base, not reversing.

If Sonic continues to trade above the point of control, this could indicate the presence of vertical accumulation. This kind of price action—higher lows on the lower time frame inside a contained range—often leads to further continuation.

One critical area to watch is the resting liquidity around $0.52. This level is an untapped high and a magnet for price, especially with the 0.618 Fibonacci and VWAP resistance stacked above it.

Reaching that $0.52 signals both technical and psychological sense. The theory of liquidity suggests that markets seek out areas of uncollected orders.

Once price had taken the lower-side liquidity and bounced hard, the next logical move is to target the stiffs.

That target also aligns with the value area high of the current range, meaning a tap of that level would complete a full range rotation from low to high. If Sonic starts distributing around that resistance area, that could mark the start of a longer consolidation phase.

Right now, the chart is still showing signs of strength. There are no clear signals of weakness, and vertical accumulation patterns tend to continue until exhaustion.

While it’s smart to be cautious near resistance, prematurely shorting Sonic without a clear rejection could be risky. For now, the bulls are in control—and the $0.52 target remains in play.

News data source: kdj.com

The above is the detailed content of Sonic (S) token has caught the eye of traders after a powerful bullish move from support. With price now consolidating under key resistance, the next breakout could be just around the corner. For more information, please follow other related articles on the PHP Chinese website!