What Will Sonic Do Next? What the Data Suggests
Analyst
Posted:
Share this analysis
- Sonic has recently emerged from an inverted head and shoulders pattern and displays a potential upside of approximately 35%.
- Despite mixed on-chain signals, overall sentiment is improving, which contributes to a bullish outlook.
Sonic [S] is currently witnessing an impressive surge, trading at $0.6500 at press time. This marks an increase of 10.89% in the last 24 hours.
The cryptocurrency has successfully navigated out of an inverted head and shoulders pattern, indicating promising further upside potential.
This technical formation historically shows strong bullish momentum; hence Sonic’s price target could reach $0.85—a potential rise of about 35%.–>
TradingView
div >
: What are the insights from on-chain signals?
In our assessment of Sonic’s on-chain data, we observe both positive and concerning factors at play here . The network growth has risen by 0.20%, reflecting increased engagement. p >
Furthermore, the percentage of Sonic holders experiencing profits has climbed to21.30%. This trend likely supports future price increases , although there has been a drop in large transactions by roughly14%. p >
Source: IntoTheBlock. p >
div >
Will Sonic reach $0.85? Given our observation on bullish activity complemented by rising sentiments alongside technical patterns forecast/predict prices may indeed surpass$[Indicate where they broke even or rolled.]>
–
MonterenzitoWMSPMastrobutNotToSecureTechnologies.Update monitoring just incase its important more time is required
