Sonic Crypto Nears Yearly Lows: Is This the Bottom Before a Massive Reversal?

Sonic's price is scraping depths not seen in over a year—but crypto degens aren’t hitting the panic button yet. Could this be the ultimate 'buy the dip' moment, or just another trapdoor in Web3’s funhouse?

### The Make-or-Break Level

Traders are eyeing key support zones like hawks. A bounce here would confirm a classic Wyckoff accumulation pattern. A breakdown? Well, let’s just say the ‘long-term holders’ might start sweating through their laser-eyed Twitter avatars.

### Liquidity Hunt in the Shadows

Market makers are clearly hunting stops below yearly lows—standard casino behavior. But with open interest creeping up, this could morph into a proper short squeeze if BTC decides to play along.

### The Cynic’s Corner

‘Technical analysis’ in crypto remains 60% horoscope, 30% confirmation bias, and 10% actual order flow. But hey—when the leverage flows, nobody questions the methodology.

Key technical points

• Support Zone: $0.26 HTF support remains the key level to hold.
• Resistance Levels: $0.40 and $0.46 are major barriers to reclaim.
• Market Structure: Bearish bias persists, but signs of a bottoming pattern could emerge if support holds.

Technically, Sonic has printed a series of lower highs and lower lows, confirming a bearish market structure that has brought the price back into the yearly low region. The failure to reclaim the value area low continues to leave the door open for downside pressure, particularly as each rally attempt has lacked strength and follow-through.

However, Sonic’s extended consolidation at support may indicate the development of an accumulation phase. Markets often oscillate between value area highs and lows, and Sonic’s current position near the value area low gives traders a valid technical case for anticipating a mean reversion move, provided key resistance levels are reclaimed.

The first major milestone in this potential reversal WOULD be a decisive reclaim of the $0.40 region, which aligns with a critical HTF resistance zone. This area has rejected price multiple times, and a clean breakout, ideally backed by strong volume, would signal a return of bullish strength. A successful reclaim could pave the way for a rotation toward $0.46 and eventually a retest of the value area high near $0.52.

What to expect in the coming price action

Sonic remains technically bearish while trading below $0.40, but reclaiming this level could initiate a broader structural shift. If buyers step in with conviction at current levels and volume builds, Sonic could stage a recovery rally toward $0.46, with a potential extension to $0.52. Until then, traders should remain cautious and watch for confirmation around the $0.40 zone before shifting bias.