Sonic price has climbed nearly 10% this week, and it is now testing a major resistance level that has held firm since December. After months of sliding lower, momentum appears to be shifting, but is it enough? Is this just another failed attempt, or could Sonic finally break out?
Let’s take a closer look at the technical setup and see whether dropping $2,000 into Sonic makes sense right now.
Sonic Still Trapped Below a Descending Trendline
S has been locked beneath a clear descending trendline since mid-December 2024. That trendline has rejected three key rallies, first near $1.60, again at $1.00 in early March, and most recently just under $0.60. Every time the price approached this line, sellers stepped in and pushed it back down.
From its December peak to the March low, Sonic price dropped over 67%, hitting a low near $0.38. After finding support in that range, it rebounded and started pressing back toward resistance. As of now, Sonic is trading around $0.51, sitting right below that trendline once again.
Unless Sonic manages a strong daily close above the $0.55–$0.60 level, the long-term downtrend remains in control.
Sonic Price Support Is Holding and Higher Lows Are Taking Shape
Despite the trendline holding firm, the structure beneath is improving. The zone between $0.38 and $0.43 has acted as a reliable support base for months. Sonic price has bounced from that level several times since February, suggesting buyers are defending that area consistently.
More notably, the Sonic (S) chart is showing a pattern shift. After forming lower lows through March, Sonic price printed a higher high in late March, followed by a higher low in April. This change in market structure often signals that bullish momentum is building. If the trendline gives way, it could trigger a rally toward $0.65 or even $0.90.
Until then, $0.40 remains the main floor, with $0.30 as the next support level if that fails.
So, Should You Put $2,000 Into Sonic?
Sonic price is at a technical crossroads. While the downtrend is still technically intact, the emergence of higher lows and strong support suggests a shift may be underway. A confirmed breakout above the descending trendline with volume could open the door to higher price targets.
However, without that breakout, Sonic risks another rejection and potential pullback to the $0.40 zone. If that support breaks, the price could revisit its March lows.
Putting $2,000 into Sonic now offers upside potential, but only if the breakout confirms. Until that happens, the setup remains unproven, and caution is warranted.
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