• Sonic’s price rose 2.59% in the last 24 hours.
• The weekly surge of 22.2% strengthens the bullish outlook.
• The market cap climbed to $815.85 million, showing strong momentum.
• A descending wedge pattern hints at breakout potential.

Sonic is holding firm on a positive trajectory despite wider fluctuations in the crypto market. In the past 24 hours, the token has advanced by nearly 2.59%, extending its strong weekly momentum that reflects a 22.2% surge.

At the time of writing, Sonic is trading at $0.2833 with a market capitalization of $815.85 million, marking a 2.66% increase. However, its 24-hour trading volume dropped by 30.47% to $114.6 million, indicating lower short-term participation.

The asset continues to display resilience as it pushes against a descending resistance trendline. This action suggests that buying interest remains strong, even with recent volatility in the broader market. Sonic’s technical setup is attracting traders who view the structure as a key turning point.

Also Read: Sonic Hits $1 Billion Mark, Topping Main Rivals

Sonic Technical Setup Highlights Breakout Potential

Sonic’s price behavior over recent months has created a descending wedge pattern, a structure often linked to bullish reversals. This narrowing formation signals weakening selling pressure, with buyers gradually regaining control. Support holds at the $0.2460–$0.2500 zone, a level that has repeatedly prevented deeper declines. Maintaining this base is vital for keeping investor confidence intact.

If buyers succeed in breaking through the wedge ceiling, Sonic could challenge the immediate resistance level at $0.3000. A decisive move beyond this threshold opens the way for higher targets. Analysts point to upside levels at $0.4695, $0.5590, and $0.7200, each acting as potential profit-taking zones for market participants.

These levels will find correlation in the long-term bullish scenarios if strength maintains momentum. A breakdown in breaking resistance levels will cause a replaying back towards its support region, maintaining price action range-bound until a breakout confirmation by a new set of fresh signals.

Community Sentiment Shows Strong Bullish Momentum

The sentiment chart for the community reveals significant optimism since 82% of members cast a bullish vote from a total of close to 69.9K votes. It means that a vast majority of investors and traders anticipate a rise in the asset’s price as an indicator of great confidence in its short or long-term prospects. The sizable green segment on the bar visually verifies the prevalence of bullish sentiment.

Conversely, just 18% of voters are still bearish, indicating a comparatively small segment that looks for a lower price. Even though this presence reflects some trepidation in the market, sentiment as a whole tips strongly positive. That ratio by sentiment points up that market mentality favors bullish momentum currently, as weak pressure by the bears finds contrast against strong bullish fervor.

Also Read: Sonic Labs Enters U.S. Markets with $150 Million Token Plan and ETF Launch