crypto analysis
07/09 00:30
Sonic Key technical points
Key technical points
- Support Zone: $0.26 HTF support remains the key level to hold.
- Resistance Levels: $0.40 and $0.46 are major barriers to reclaim.
- Market Structure: Bearish bias persists, but signs of a bottoming pattern could emerge if support holds.
- However, Sonic’s extended consolidation at support may indicate the development of an accumulation phase. Markets often oscillate between value area highs and lows, and Sonic’s current position near the value area low gives traders a valid technical case for anticipating a mean reversion move, provided key resistance levels are reclaimed.
The first major milestone in this potential reversal would be a decisive reclaim of the $0.40 region, which aligns with a critical HTF resistance zone. This area has rejected price multiple times, and a clean breakout, ideally backed by strong volume, would signal a return of bullish strength. A successful reclaim could pave the way for a rotation toward $0.46 and eventually a retest of the value area high near $0.52
- Technically, Sonic has printed a series of lower highs and lower lows, confirming a bearish market structure that has brought the price back into the yearly low region. The failure to reclaim the value area low continues to leave the door open for downside pressure, particularly as each rally attempt has lacked strength and follow-through.
#Check In Daily, Win Prizes Daily — Join the Fun!#Join HTX On A Fitness Journey To Mars#Claim1,200 USDT in the Monthly Creation Challenge#Do you think DELOREAN is promising?# Israel’s attack on Iran.
41Compartir
Todos los comentarios0Lo más recientePopular
No hay registros