Journalist
Posted:
- Sonic experienced a 46% drop in the day when prices were from $ 0.99.
- The $ 0.8 and $ 0.73 retain as a support should probably be followed by another higher price level.
Sonic (S) (planned) has shown upotal force in the past two weeks. He reversed his losses in early February and pushed $ 1.
At the time of the press, the level of $ 0.8 was retest as support. It was likely that the Bulls will defend this level. The momentum and the volume reported that it was a buyer market.
Sonic should continue the upward trend
Source: S / USDT on tradingView
The 4 -hour table of S showed that the upward trend became strong. The price has formed a series of highest and higher highs since the depression of the resistance level of $ 0.6.
This resistance had been the lowest which experienced the price of the price at $ 0.315 at the start of the February sale.
The upward movement in the past three weeks has been borne by high purchase pressure. The volume bars showed an exceptional volume of purchase, especially during last week.
This came next to an escape s beyond the resistance of $ 0.8.
Sonic’s DMI agreed with the conclusion of price action. The lines + DI and ADX were both of more than 20, showing a significant increase in class.
The OBR has produced strong gains as the volume has skyrocketed in recent days and was well above the local bottom marked in white.
A movement less than $ 0.75 would not return the structure of the bullish market, but this could weaken the momentum. This could open the way for a deeper retirement to $ 0.609 or $ 0.505.
Source: Coringlass
The liquidation thermal card has shown significant liquidity below $ 0.8 and about $ 0.95 to $ 1. These are the price objectives in the coming days. A move to $ 0.739 would sweep liquidity in the south.
Long forced liquidations could be quickly reversed, as Bulls retain short -term market control.
Consequently, traders should be wary of a price drop less than $ 0.8, but it would not be a signal not to fail. $ 0.71 to $ 073 should serve as a lower time request area.
Above $ 1, the $ 1.4 level should be the next level of significant resistance.
Notice of non-responsibility: The information presented does not constitute financial investments, exchanges or other types of advice and is only the opinion of the writer
