Sonic Token Dey Hold $0.30 Support, Eye Rally Go Reach $0.40
Sonic Token don dey consolidate tight pass di $0.30 support zone, e base on overlapping technical factors like di 0.618 Fibonacci retracement, point of control and value area low. Dis accumulation phase show say confidence don dey increase after Sonic Labs wey be Fantom spin-off, get strong community backing for e first governance proposal. But e volume still quiet and e need to increase make e validate any bullish breakout. Key resistance levels at $0.35 and $0.40 go serve as important milestones: if e close above $0.35 e go confirm say momentum don waka again, and if e hold pass $0.40 e fit trigger better uptrend. Traders gots watch volume inflows well well, because history of altcoin patterns dey show say breakout from tight consolidation dey usually come before big rallies.
Bullish
Sonic Token fit defend di $0.30 demand cluster – wey get Fibonacci retracement, point of control and value area low behind am – dey show classic accumulation setup. Other altcoins like FTM for Q2 2024 consolidate like dis, dem later get rallies pass 20% when volume confirm the move. If e close pass $0.35, e fit start short-term run go $0.40, and if e break $0.40, gains fit extend to higher Fibonacci extension targets. Recent governance vote add fundamental catalyst, show say both short-term momentum and renewed long-term confidence dey. So, outlook na bullish.