The cryptocurrency Sonic (S) has bounced back by 31% after reaching an all-time low three days ago. This recovery has been driven by traders buying the dip and renewed demand for the token. Inflows into Sonic's spot markets have also increased, indicating growing demand and investor confidence. Additionally, the open interest for S is on the rise, suggesting new money entering the market and reinforcing the upward price momentum. The price of S is poised to break above its 20-day Exponential Moving Average (EMA), which could signal potential bullish momentum and a continuation of the current rally. However, profit-taking among traders could result in the price dropping to $0.33.



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