Current Price: $0.5347
Change: +0.15%
Position: Short (Expecting the price to go down)
Entry Price: $0.5663
Leverage: 3X
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Chart Pattern Analysis (4H Timeframe):
A bearish Head and Shoulders pattern is forming. This usually signals a possible downward move.
The RSI is in a supply zone (area where sellers are strong), which increases selling pressure.
A reversal might happen between the 0.5 to 0.618 Fibonacci levels, which also matches the neckline of the pattern.
USDT.D (USDT Dominance):
On the 4-hour chart, it's in a descending channel.
RSI is in a demand zone (buyers are strong) and shows bullish divergence, suggesting a short-term rise may happen—possibly testing the top of the channel.
After that, it could drop again.
Important: If USDT.D rises, crypto prices usually fall. If USDT.D drops, it’s good for crypto.
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Weekly Analysis:
SONIC shows liquidity on both sides—up and down.
This means the price may go up first to "grab" liquidity, then reverse downwards to target lower liquidity levels.
This is known as a liquidity grab or "fake-out" movement.
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Target Prices (Take Profits):
1. First Target (TP1): $0.5250
2. Second Target (TP2): $0.4900
3. Third Target (TP3): $0.4500