Sonic token price is showing weakness after rejecting from resistance at $0.17. Prices are hovering around the lows of the value area, and there is a risk of further correction towards the untapped lows of the beginning of the year.
summary
- Sonic Token was rejected at $0.17 resistance, confirming continued weakness.
- The threatened value area is low, indicating potential failure.
- Failure to maintain this could result in a new annual low.
Sonic (S) token price continues to show sustained weakness as price action struggles to maintain structure above key levels. The recent rejection near $0.17 has triggered another downside momentum, pushing the price back toward the lows of the value area, a key support zone that is currently under heavy pressure.
With bearish momentum strengthening and the daily structure showing no signs of reversal, the chances of a deeper correction continue to rise as sellers maintain control of the market.
Key technical points of Sonic Token:
- Rejection due to resistance: The price faced a strong rebound at $0.17, creating new selling pressure.
- Low value range under pressure: The current support zone is weakening and may not be sustainable if volume remains bearish.
- The downtrend remains: Sonic Token remains in a broadly bearish market structure and is at risk of hitting new year-to-date lows.
From a technical perspective, Sonic Token’s recent price movement has strengthened its bearish bias. The rejection from $0.17 confirmed that buyers were unable to recover the resistance level and the market was able to continue its downward trend. As a result, prices are expanding downward towards the value area lows, which is the last line of defense in the short term.
The lows in the value area are “barely holding,” suggesting buyer fatigue. A decisive breakdown below this area would confirm a continuation of the bearish expansion, perhaps leading to a shot at untested and untapped year-to-date lows. If the downward trend continues, this could be a new low for the year.
Additionally, the lack of significant inflows or bullish reactions at current levels indicates weak demand. Until a meaningful structural reversal occurs, such as a breakout above $0.17, Sonic Token remains under strong bearish influence.
The broader market structure remains decidedly bearish. Price continues to make lower highs and lower lows, which is a typical feature of a sustained downtrend. The inability to reclaim higher resistance levels, such as the $0.17 area, shows a lack of strength and confirms that sellers are still dictating the direction.
What to expect from future price trends
If the low of the value area cannot be sustained, Sonic Token may extend the correction and test an untapped annual low, which could result in a temporary pullback or accumulation phase.
Conversely, if price stabilizes above this support and volume begins to recover, a short-term consolidation range between the $0.17 resistance and current support could form before a meaningful trend change occurs.