Altcoins News
By Julie Binoche
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Sonic, the rebranded version of the Fantom (FTM) network, has reignited bullish momentum after months of downward pressure. Trading at approximately $0.
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The recent upswing began after Sonic managed to stabilize above a long-standing support zone.
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At present, Sonic is trading just above its breakout zone, a level being watched closely by market participants.
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On the daily chart, Sonic is forming a classic bullish structure—higher highs and higher lows. This indicates that buyers are slowly gaining control.
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The Relative Strength Index (RSI) is trending upward and staying above a key ascending trend line. This reflects increasing bullish momentum and buying strength.
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Additionally, Sonic is trading within an ascending triangle pattern, often seen as a continuation setup.
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A break and hold above $0.6 may invite short-term corrections, but these could serve as opportunities for further accumulation.
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Looking further ahead, long-term targets for Sonic remain ambitious but not implausible. If the broader market continues to recover and Sonic’s fundamentals remain strong, a…
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Sonic’s transformation from FTM to a faster, more scalable ecosystem has been a key narrative in its recent resurgence.
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For now, the focus remains on the immediate technical structure. A clean breakout above the $0.
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In summary, Sonic’s breakout has captured the attention of the market at a pivotal moment. With the right mix of momentum, technical strength, and positive market sentiment, the…
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