Recently, SONIC has formed an interesting chart pattern around $0.40 - it looks like it's accumulating strength. From a technical perspective, this is a "bullish expanding wedge", and if it successfully breaks out, the target is straight to $0.50.
There are currently several good signals:
- The 20-day moving average has broken through and has now become dynamic support.
- The Parabolic SAR indicator is also nodding in agreement.
- The trading volume has exceeded $90M, and participation is on the rise.
But there is a key point here: whether it succeeds or not depends on the volume. If the trading volume suddenly increases when the price approaches $0.40, then this breakthrough counts. Sonic Labs has also prepared a $150M token release to stimulate demand in the US market, which could be a good catalyst.
Risks must be clearly understood. The support level is at $0.31, and if it falls below this, the entire pattern will be invalidated. Additionally, SONIC was previously at $0