Sonic Price Prints Bullish Broadening Wedge—Is a Major Rally Imminent?

Sonic's chart flashes a bullish broadening wedge—a pattern that often precedes explosive moves. Traders are watching closely as the setup hints at potential upside momentum.

Technical Breakout Signals

The wedge formation suggests growing volatility and accumulation. If bulls break resistance, Sonic could target new local highs—classic chart psychology playing out in real time.

Market Sentiment Shift

Crypto traders love these patterns because they’re self-fulfilling prophecies. Everyone sees the same lines, places the same bets, and voilà—the market moves. Almost like magic, except with more leverage and sleepless nights.

Just remember: in crypto, even the prettiest chart can turn into a rug pull. Proceed with cautious optimism—and maybe set a stop-loss.

Sonic price technical points:

• Bullish Wedge Support: Sonic is consolidating at the lows of a bullish broadening wedge, aligned with the value area low.
• Key Resistance at $0.40: This level aligns with the value area high and must be reclaimed for upside momentum.
• Upside Extension Target $0.50: A successful breakout backed by volume could fuel a rally toward $0.50.

From a structural perspective, Sonic is trading at a key support within a bullish wedge formation. This type of pattern typically signals accumulation before expansion, especially when the price is holding at the lows of the formation. The presence of the value area low at this region reinforces its significance, providing traders with a technically sound level to watch for a reversal.

The volume profile is currently on a decline, which is natural during consolidations. However, to validate a breakout from this pattern, Sonic will require a surge in bullish inflows. Volume confirmation is critical, as it provides the fuel for the price to rotate back to the upside. Without this, the token risks stagnating within the wedge or drifting lower before demand steps in.

The next critical resistance level lies at $0.40, which aligns with the value area high. A reclaim of this zone WOULD likely confirm renewed bullish momentum and serve as the trigger for a push higher. Beyond $0.40, the $0.50 mark emerges as the next target, where the price would encounter higher time frame resistance. Together, these levels define the immediate roadmap for Sonic if bullish expansion materializes.

What to expect in the coming price action

If Sonic continues to hold support at the value area low and bullish volume begins to FLOW in, the probability of a breakout from the wedge increases significantly. A rotation to $0.40 followed by $0.50 becomes the likely path. However, if support is lost without volume confirmation, the price could weaken further before buyers return.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.