SonicAnalysis
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$S (Sonic coin) is currently priced between $0.510 to 0.520 on Binance. The chart shows that it may rise soon, especially if it breaks above the resistance level. If that happens, The price could go as high as $0.980 to $1.39 to $1.46 later. This is based on a strong chart pattern called a "double bottom". Which often signals a price jump.
However there is a risk. A planned 1:1 token swap with FTM might increase Sonic's total supply. Which could drop the Sonic's price.
Overall, Sonic has a chance to grow, but traders should watch the supply news carefully and be cautious before investing.
For now its best to wait for a clear breakout or more updates on the token swap before making big moves. Watching volume, RSI, and market sentiment can also help in deciding the right time to buy or sell.
$S (Sonic coin) is currently priced between $0.510 to 0.520 on Binance. The chart shows that it may rise soon, especially if it breaks above the resistance level. If that happens, The price could go as high as $0.980 to $1.39 to $1.46 later. This is based on a strong chart pattern called a "double bottom". Which often signals a price jump.
However there is a risk. A planned 1:1 token swap with FTM might increase Sonic's total supply. Which could drop the Sonic's price.
Overall, Sonic has a chance to grow, but traders should watch the supply news carefully and be cautious before investing.
For now its best to wait for a clear breakout or more updates on the token swap before making big moves. Watching volume, RSI, and market sentiment can also help in deciding the right time to buy or sell.
🚨 $S /USDT ALERT: Testing Key Resistance at $0.4767! 🚨
$S /USDT is trading at $0.4723, up 8.55% today, with bullish momentum building. The price is nearing its 24-hour high of $0.4767, indicating a possible breakout.
Key Levels to Watch:
Resistance: $0.4767 – A breakout above this level could target $0.48 and $0.50.
Support: $0.46 – Holding above this level is crucial to maintain bullish momentum, with $0.45 as the next key support.
Trade Setup:
Long Entry: Above $0.475, aiming for $0.48 and $0.50.
Short Entry: Below $0.46, targeting $0.45 and $0.44.
Risk Management:
Stop-loss: $0.465 for longs and $0.47 for shorts.
Market Insight:
The MACD shows increasing bullish momentum, with volume supporting further upside potential. However, caution is advised around resistance levels for potential pullbacks.
#SonicAnalysis
$S /USDT is trading at $0.4723, up 8.55% today, with bullish momentum building. The price is nearing its 24-hour high of $0.4767, indicating a possible breakout.
Key Levels to Watch:
Resistance: $0.4767 – A breakout above this level could target $0.48 and $0.50.
Support: $0.46 – Holding above this level is crucial to maintain bullish momentum, with $0.45 as the next key support.
Trade Setup:
Long Entry: Above $0.475, aiming for $0.48 and $0.50.
Short Entry: Below $0.46, targeting $0.45 and $0.44.
Risk Management:
Stop-loss: $0.465 for longs and $0.47 for shorts.
Market Insight:
The MACD shows increasing bullish momentum, with volume supporting further upside potential. However, caution is advised around resistance levels for potential pullbacks.
#SonicAnalysis
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