🚀 $S /USDT [SONIC]: Bullish Momentum or Overheated Market?
🔍 Market Sentiment:
▫️ Bullish, but overbought conditions could signal a potential retracement!
🪙 $S has been on a strong upward trend, consistently trading near the upper Bollinger Band, with an RSI of 81.28 — a level that often indicates overbought conditions.
Will the rally continue, or is a cooldown on the horizon?
🟩 Bullish Signals:
▫️ Strong buying pressure sustaining price action near highs
▫️ Momentum indicators still pointing upwards
▫️ FOMO-driven market sentiment pushing prices higher
🟥 Potential Risks:
▫️ RSI at extreme levels – possible correction ahead?
▫️ A pullback could occur if traders start taking profits
▫️ Price sensitivity to shifts in sentiment at these levels
📊 What This Means for Traders:
▫️ If momentum remains strong, further upside is possible.
▫️ A retracement wouldn’t be surprising given the overbought conditions.
▫️ Staying cautious and managing risk is key in this market phase!
$S [SONIC]
💲 Price: $0.587
₿ 0.00000610
▫️ H/L: $0.586 | $0.515
▫️ ✅ 1h: 1.33%
▫️ ✅ 24h: 12.09%
▫️ ✅ 7d: 41.19%
▫️ 🟥 30d: -15.12%
⛰️ ATH: $1.03 (-43.61%)
📊 24h Vol: $124.80M
💰 Marketcap: $1.86B
💬 What’s your view on $S? Will the rally continue, or is a pullback coming?
Drop your thoughts below! 👇
