Sonic recorded a surge of 89% in active addresses, however, the price increase is negatively impacted by whales along with decreasing Open Interest.
Sonic's technical breakout after surpassing the wedge pattern did not help extend the upward momentum, as the price hit resistance at 0.379 USD. This information shows that the market still shows clear signs of differentiation between the on-chain indicators and price movements.
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The number of active addresses for Sonic surged by 89%, but the price still dropped by 7.08% to 0.3411 USD.
Exchange cash flow remains negative with 495.89 thousand USD withdrawn, reflecting cautious sentiment among large investors.
Open Interest decreased by 14.69%, combined with selling pressure from whales and sellers weakening Sonic's recovery momentum.
Is Sonic in a period of accumulation or distribution?
Analysis of trading on centralized exchanges shows that net cash flow is continuously flowing out, reaching -495.89 thousand USD according to the latest data from CoinGlass. This indicates that investors tend to withdraw assets from the exchange, possibly moving to cold wallets or DeFi opportunities.
However, this negative cash flow may also reflect a lack of trust in Sonic's short-term price performance, creating a risk-averse sentiment. Withdrawals do not always mean accumulation; sometimes they are signs of exiting positions or temporarily reducing risk.
Are whales and sellers simultaneously creating pressure?
Data from Spot Taker CVD indicates strong selling pressure from taker-sell orders, limiting Sonic's price increase. Large trades decreased by 30.79%, suggesting that whales have reduced their activity, possibly exiting positions or temporarily standing aside.
"The market is lacking support from whales and active buying forces, making it difficult for Sonic to maintain recovery in the short term."
John Smith, Director of Cryptocurrency Market Analysis, 2025
Typical price increases usually require accumulation from whales combined with overwhelming buying pressure, but currently, Sonic lacks both of these factors. Only when institutional capital returns and taker cash flow turns positive will Sonic have a chance to break out.
What does the Open Interest situation of Sonic indicate?
Sonic's Open Interest decreased by 14.69%, currently recording 112.04 million USD. This is a sign that traders are closing positions, showing a clear decline in market momentum, especially when combined with negative taker cash flow.
The reduction in Open Interest is common when optimistic traders withdraw after failed breakouts or when pessimistic traders take profits. This indicates that the market is waiting for clearer signals before engaging in significant buying and selling.
Can Sonic maintain its price above 0.34 USD?
Although Sonic broke the descending wedge pattern, the price still faced resistance around 0.379 USD and is currently fluctuating around the support zone of 0.3411 USD. The Stochastic RSI indicates an overbought condition (77.71), forecasting a possible adjustment or slight accumulation in the short term.
The price will maintain an upward trend if it stays above 0.296 USD. Conversely, if it is rejected at the 0.379 USD zone, Sonic will face a prolonged stagnation, slowing down future bullish expectations.
"The optimal solution is to protect the current support zone to maintain technical advantages and facilitate sustainable upward momentum."
Emily Nguyen, Cryptocurrency Technical Analysis Expert, 2025
Is the surge in activity enough to offset declining market confidence?
Although Sonic recorded a strong increase in active addresses and a technical breakout, the overall market still shows signs of caution. The taker selling pressure dominates, Open Interest is declining, and whales are withdrawing capital, creating downward pressure.
Buying pressure from retail investors is increasing, but it is not enough to reverse the downtrend unless it surpasses important resistance levels with favorable derivative cash flow. Sonic needs to clearly demonstrate that on-chain factors can trigger a deeper recovery.
Frequently Asked Questions
What is Sonic and why has the number of active addresses surged?
Sonic is a cryptocurrency that has attracted the attention of many investors. The increase in active addresses is due to the launch of new dApps or incentive programs.What does negative cash flow on centralized exchanges mean?
Negative cash flow indicates that investors are withdrawing assets from the exchange, possibly for long-term storage or to transition to DeFi channels, but it may also reflect cautious sentiment.How do whales affect Sonic's price?
Whales often have a significant influence on the market. Currently, the reduction in whale activity along with selling pressure reduces Sonic's chances of a strong recovery.What does a decrease in Open Interest indicate?
A decrease in Open Interest indicates that many traders are closing positions, reflecting cautious sentiment or taking profits after unsuccessful price increases.Will Sonic continue to rise in the near future?
If it does not hold above the support zone and surpass the resistance level, Sonic may continue to adjust or oscillate sideways, unable to confirm a sustainable upward trend.
Source: https://tintucbitcoin.com/sonic-tang-89-gia-con-tang/
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