Sonic Token drew the attention of merchants after a powerful bullish element of support. With Price now consolidating under key resistance, the next study could be just at the corner of the street – here is what the graph tells us.
Sonic (s) token recently showed serious momentum, attracting the attention of merchants with a powerful haling swallowing candle. With the price now against the main technical levels, the next movements could be crucial to determine if we see the continuation – or the signs of a reversal.
Key points:
- Solid engulfing candle of the low value zone and daily support at $ 0.39
- Consolidation of prices just under the control point, referring to the vertical accumulation
- The liquidity target of $ 0.52 aligns with 0.618 Fibonacci and VWAP Resistance
The recent price action on Sonic Token was notably impulsive, starting with a strong brought up to the low -value engulfing candle which has formed in the low value area. This region has also been perfectly aligned with daily support around $ 0.39, which gives significant technical weight.
The push was accompanied by an increasing volume profile, confirming the interest and demand of buyers at this level. After the push, Price is now found by consolidating itself near the control point – makes a sign that the market builds a base, and not to reverse.
Potential vertical accumulation
If Sonic continues to be negotiated above the control point, this could point out the presence of vertical accumulation. This type of price action, characterized by higher stockings on the lower time in a compact trading range, often leads to a more increased pursuit.
A critical area to monitor is liquidity at rest around $ 0.52. This level is distinguished as high speed and a magnet for the price, in particular with the level of fibonacci of 0.618 and the VWAP resistance stacked just above.
Reaching this region of $ 0.52 has a technical and psychological meaning. The theory of liquidity suggests that the markets are looking for non -collected order areas. Once the price has taken the liquidity on the lower side and has rebounded hard, the next logical movement consists in targeting the summits.
This target also corresponds to the high value area of the current beach, which means that a tap of this level would end a complete rotation of low to high. If Sonic is starting to distribute around this resistance area, this could mark the start of a longer consolidation phase.
Currently, the graph always shows signs of strength. There are no clear signals of weakness and vertical accumulation models tend to continue until exhaustion. Although it is intelligent to be careful near the resistance, the short-circuit prematurely Sonic without clear rejection could be risky. For the moment, the Bulls are in control – and the objective of $ 0.52 remains in play until proven the opposite.
