Why Sonic Can Still Make Profits Even If Price Falls Below $0.8

• Sonic experienced a 46% decrease in volume on the day as prices retracted from $0.99.
• A retest of the $0.8 and $0.73 support levels could set the stage for further price gains.

Sonic [S] (earlier known as FTM) has demonstrated bullish momentum over the past two weeks, recovering its losses from earlier in February and trending toward the $1 mark.

As of now, the price level at $0.8 has been confirmed as support, with strong indications that buyers would uphold this threshold. The prevailing momentum and trading volume clearly indicate a buyer’s market.

Sonic is poised to extend its uptrend

The four-hour chart indicates that S has been in a robust uptrend since breaking through the $.6 resistance level, executing a succession of higher highs and lower lows.

The lower high was what caused the price to plummet during early February’s sell-off.

A surge in buying pressure has propelled upward price movements over recent weeks, with volume bars indicating substantial buying activity particularly last week.

  This coincided with a breakout above $0.8 resistance.

  Sonic’s DMI affirmed positive trends; both +DI line and ADX line are surpassing 20 signals confirmation of an active uptrend.

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  As long as buyers maintain short-term control over market circumstances can shift swiftly for enforced beginners.

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Disclaimer – The insights presented here do not serve as financial counsel but rather reflect personal views/
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