Sonic (S) is experiencing strong bullish momentum, with its price up 15% in the last 24 hours and 53% over the past seven days. Its market cap is now at $2.6 billion, indicating growing investor interest and heightened trading activity. Technical indicators, such as the ADX and RSI, confirm the strength of the uptrend and suggest sustained buying pressure. Sonic could test resistance levels at $0.849 and potentially $1.06. However, overbought conditions could lead to short-term pullbacks. The recent surge in ADX and RSI indicates increasing market momentum and heightened buying activity, respectively. The elevated RSI suggests overbought conditions and the possibility of a price pullback or consolidation. Sonic's EMA lines forming two golden crosses also indicate strong bullish momentum. If the trend continues, it could reach $1.06, its highest price since December 2024, attracting more buying interest. However, if the trend reverses, support levels at $0.65 and $0.58 could be breached, leading to further declines.



Other News from Today