Sonic Jumps 11% After Long Slump: Traders Eye $0.40 Breakout

Sonic, the long-beleaguered altcoin, surged 11% in 48 hours, breaking its bearish trend of lower highs since Q2. The rally pushed prices above the critical $0.3604 resistance level, sparking speculation about a potential trend reversal.

Token turnover spiked during the move, suggesting renewed market participation. However, spot volume bubble maps indicate cooling momentum compared to earlier weekly peaks—a divergence that leaves traders questioning whether this is a dead cat bounce or the start of sustainable recovery.

The altcoin's futures market shows muted interest despite the price action, creating an unusual disconnect between derivatives activity and spot movement. Market structure analysts note that holding above $0.36 could open a path toward $0.40, though failure to maintain momentum may see a retest of recent lows.