- Sonic crypto price gained 20% in the last 24 hours.
- S price succeeded in climbing above the 50-day and 200-day EMA.
Sonic (S) surged nearly 20% in the last 24 hours, with a 64% increase in the last seven days succeeded in breaking the $0.58 hurdle. It formed a bullish continuation pattern and prices continued to make higher high structure.
Moreover, Sonic’s on-chain activity also shows remarkable growth. Since its launch, Sonic has achieved over 25 million transactions and has 758,000 unique addresses. The blockchain has a TVL of $500 million and also received over $316,000 in transaction fees.
On the technical chart, Sonic’s price has performed well in the past few months and generated good returns for its investors. In the past few trading sessions, the Sonic price has been in robust bullish momentum and also formed a golden crossover in EMA lines indicating bullishness in the price.
According to CoinMarketCap, at the time of writing Sonic price was trading at $0.878 with an intraday gain of 20%. It holds a market cap of $2.53 billion and a 24-hour trading volume was $7.49.38 million.
Sonic (S) Price Surfing On Bullish Waves
On the daily technical chart, Sonic’s (S) price is surfing on the bullish waves trading above the key exponential moving averages of 50-day and 200-day. The relative strength indicator is also looking solid as it was trading in the bullish range at 75.55 above the 14 SMA curve.
Over the last few months, S crypto price performance was outstanding, it grew by almost 12% in the last three months. It gave a 45% return last month and grew by 64.71% last week showcasing bullishness on the daily chart.
Moreover, according to the technical summary of the trading view out of 16 indicators 4 are on the sell side, 4 are on the neutral side and 8 are on the buying side, indicating bullishness. The momentum is bullish but a key resistance level is ahead. To break the $1 mark it will need an influx of buyer support.
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