Sonic crypto price finds support at $0.29: is a reversal to $0.40 next?

Sonic crypto price continues to hold $0.30 support with multiple technical confluences. Consolidation suggests accumulation, with the next resistance levels at $0.35 and $0.40 in focus for continuation higher.

Sonic Token (S) has been stabilizing around $0.30, a high timeframe level that aligns with several major technical factors. Although the token has not yet seen acceleration in price, its ability to sustain support suggests accumulation is taking place. Confidence in the project has also grown, as Sonic Labs, a Fantom spin-off, won strong community support for its first governance proposal. If confirmed with stronger participation, this consolidation could resolve into a bullish breakout, setting up the next upward rotation.

Sonic price key technical points

• Major Support at $0.30: Confluence of 0.618 Fibonacci retracement, point of control, and value area low.
• Volume Profile Weakness: Declining volume must reverse with bullish inflows to sustain breakout momentum.
• Targets at $0.35 and $0.40: Swing high and resistance zones in focus for short-term continuation.

The $0.30 level remains the foundation of Sonic Token’s current price structure. This support zone is not only technical but also psychological, as buyers have consistently stepped in to defend it. The combination of Fibonacci retracement levels, value area low, and the point of control all overlapping here creates a strong cluster of demand that bolsters the bullish case.

Despite this foundation, Sonic Token has lacked conviction in volume. The volume profile shows declining activity, a sign that traders are waiting for confirmation before committing to new positions. For a sustainable rally, bullish influxes must appear and persist, particularly during breakout attempts. Without this participation, upward moves risk fading quickly.

That said, the ongoing consolidation appears compact, characteristic of an accumulation phase. Such phases often precede powerful expansions, as pressure builds beneath the surface. The fact that price has maintained its bullish structure, with higher timeframe support intact, increases the probability of an eventual breakout to the upside.

The immediate technical levels to watch are the swing high at $0.35 and the next resistance at $0.40. A close above $0.35 would signal momentum returning, while breaking $0.40 would mark continuation of the broader uptrend. Beyond this, Fibonacci extensions place higher upside targets, which could become relevant if momentum builds past the immediate resistances.

What to expect in the coming price action

As long as Sonic Token respects the $0.30 support zone, the bias remains bullish. A reclaim of $0.35 will be the first confirmation that buyers are regaining strength, with $0.40 the next critical checkpoint. Traders should monitor volume closely, as expansion will require stronger inflows to validate the move.