Sonic token forms a double bottom, hinting at a bullish reversal. But resistance looms! Will Sonic break through, or will it revisit lows?
Sonic Token's Double Bottom: Will Resistance Break?
Yo, crypto fam! Sonic token's been making some noise lately, and all eyes are on whether it can bust through some serious resistance. A double bottom has formed, hinting at a possible bullish reversal. But will it actually happen? Let's dive in.
Double Bottom Confirmed... Now What?
The Sonic token (SONIC) has established a confirmed double-bottom pattern around $0.16. This is like a superhero landing after a tough fall, signaling that buyers might be ready to take control. However, this ain't no easy ride. The price is currently bumping against the 50-day moving average (50DMA), which has been a tough nut to crack.
Think of the 50DMA as a velvet rope at the hottest club. Sonic needs to get past it to prove it's worth the party. A clean break above this level could send Sonic soaring towards the next resistance around $0.26. But if it can't, we might see a retest of that $0.16 support. Ouch!
Resistance is Futile? Not So Fast.
Right now, the market's in a
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
