Sonic (s), previously known as Fantom (FTM), directs the cryptography market with a significant increase in daily and weekly deadlines. Analysts noted that the post-creator bullish impulse sent the token to test a key resistance level, which could propel the price to the barrier at $ 1.
Sonic leads with a post-creator bullish momentum
After upgrading the planned tokens, the Sonic native token price experienced an important optimistic dynamic, twice reaching the $ 0.80 brand. On January 13, Fantom officially renamed sonic, improving the FTM tokens in S on a 1: 1 report.
In the middle of the brand change, the cryptocurrency reached an annual summit of $ 0.84 before recovering in support of $ 0.50 in the following days. During last month, the cryptocurrency planted between the price range of $ 0.40 and $ 0.60, getting out of this range at the start of this week.
Crypto analyst Michaël Van de Poppe stressed that Sonic was one of the recently key ecosystems with its total locked value (TVL) up 300% in less than two months. According to Defilma Data, Sonic’s TVL increased from $ 405.39 million to $ 635.31 million in the last seven days.
The analyst has also noticed that was completely unlocked, unlike other leading altcoins such as Solana (soil) and sui, and has a high speed and a quick colony. On the basis of this, he considers Sonic “a real competitor of soil and probably to watch for the coming year because the price has rebounded the strongest”.
Sonic was one of the main altcoins this week, up as the most efficient cryptocurrency in the Top 100 with its weekly increase of 54.61%. In addition, it occurred within the daily time, leading the market with its 20% jump in the last 24 hours.
S Breakout hits the new High
Several market observers have noted the recent performance of S, suggesting that it could continue its bullish momentum. Altcoin Sherpa said that Sonic is “always one of the strongest ways that are currently”.
Analysts suggested that this could increase towards higher price objectives, because FTM has reached a record (ATH) level of almost $ 4 last cycle.
Meanwhile, analyst SJUUL D’ALTCRYPTOGEMS stressed that the cryptocurrency has formed a rounded background in the past four weeks after falling below $ 0.60. This Monday, the price of S broke above this key resistance.
In the past three days, Sonic has recovered the price range from $ 0.60 to $ 0.65, confirming the escape from the downward trend of one month. This performance has led to another 20% increase in the last 24 hours to retest the resistance of $ 0.80 and a new annual summit at $ 0.87.
However, Ali Martinez said that Sonic could see a peak in taking profit on the horizon. The analyst said that the sequential TD had flashed a selling signal on the 4 -hour table after reaching the target of $ 0.80 from his head and shoulder model.
A sale could see the retrace of the cryptocurrency prices in its $ 0.60 support area and hold it back. Meanwhile, maintenance of the current level could further propel Sonic’s bullish momentum to the barrier at $ 1.
To date, s is negotiated at $ 0.86, an increase of 66% of the monthly period.
