$S is now unstoppable ๐ฅ๐ฅ Doing fantastic and trying ๐๐
๐น Sonic (S) Token: Recent Developments and Technical Analysis ๐น
๐ข๐ขRecent Developments:๐๐
๐จTransition to Native S Token: Sonic Labs announced the launch of its native S token, replacing the previous FTM token on a 1:1 basis. This transition aims to enhance the ecosystem and is supported by listings on major exchanges, including Binance and Bybit.
๐ข๐ขTechnical Analysis:
๐Price Movement: After a challenging start to 2025, Sonic's price showed bullish signs with a bounce on February 3, followed by a breakout from a descending wedge on February 11. This pattern suggests a potential bullish reversal.
๐Support Levels: On-chain analysis indicates strong support at approximately $0.45, suggesting a foundation for potential upward movement.
๐Resistance Levels: The next significant resistance is around $0.58. A successful breach could lead to a 50% rally, targeting the $0.76 level.
Please note: Cryptocurrency markets are highly volatile.
