Overview
The daily chart shows a clear medium-term downtrend (well-defined descending trendline) meeting a strong horizontal support zone around 0.25–0.31 USDT (yellow box). Current price ≈ 0.3059 USDT. This structure forms a descending triangle or accumulation range, signaling that the market is in a decision phase — either a bullish breakout or a bearish continuation.
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Key Levels
Current Price: 0.3059
Support Zone: 0.2494 – 0.305 (historical low at 0.2494)
Descending Trendline Resistance: ~0.33–0.35 (dynamic)
Next Resistances: 0.3891, 0.5278, 0.6067, 0.7461, 0.8654, 1.0453
Breakdown Measured Target: ~0.11 (if 0.2494 breaks)
Potential % moves from current price:
To 0.3891 ≈ +27.2%
To 0.5278 ≈ +72.5%
To 0.2494 ≈ −18.5%
To 0.11 ≈ −64%
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Pattern & Interpretation
Main Pattern: Descending trendline + horizontal support = descending triangle (bearish bias unless broken to the upside).
Bearish Signal: Lower highs structure, price still under the descending trendline, supply pressure dominant. A daily close below 0.2494 with high volume = breakdown confirmation.
Bullish Signal: Daily close above the trendline (~0.33–0.35) with strong volume, followed by a successful retest = breakout confirmation. Extra confirmation if price breaks and holds above 0.3891.
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Scenarios
Bullish
1. Break & daily close above trendline (~0.33–0.35) with rising volume.
2. Retest holds as support.
3. Targets: 0.3891 (+~27%), then 0.5278 (+~72%).
4. Stop-loss: below support box (~0.28 or safer < 0.2494).
Bearish
1. Daily close below 0.2494 with strong volume = breakdown.
2. Measured move target ≈ 0.11.
3. Conservative target: psychological zones 0.18–0.15.
4. Stop-loss for shorts: above 0.305–0.33.
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Trading Notes
Conservative Long: Wait for breakout & retest above trendline.
Aggressive Long: Enter near support (0.26–0.30) with tight stop below 0.2494.
Short: Only after confirmed breakdown below 0.2494.
Always watch daily close + volume to avoid false signals.
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Conclusion
Current trend is bearish, but the strong 0.25–0.31 support keeps the possibility of a short-term rebound alive.
Decision point: Breakout above 0.35 → bullish rally, Breakdown below 0.2494 → extended sell-off.
Risk management is key — use stop-losses and position sizing.
#SONIC #SONICUSDT #CryptoAnalysis #SupportResistance #DescendingTriangle #Breakout #Altcoin #RiskManagement
The daily chart shows a clear medium-term downtrend (well-defined descending trendline) meeting a strong horizontal support zone around 0.25–0.31 USDT (yellow box). Current price ≈ 0.3059 USDT. This structure forms a descending triangle or accumulation range, signaling that the market is in a decision phase — either a bullish breakout or a bearish continuation.
---
Key Levels
Current Price: 0.3059
Support Zone: 0.2494 – 0.305 (historical low at 0.2494)
Descending Trendline Resistance: ~0.33–0.35 (dynamic)
Next Resistances: 0.3891, 0.5278, 0.6067, 0.7461, 0.8654, 1.0453
Breakdown Measured Target: ~0.11 (if 0.2494 breaks)
Potential % moves from current price:
To 0.3891 ≈ +27.2%
To 0.5278 ≈ +72.5%
To 0.2494 ≈ −18.5%
To 0.11 ≈ −64%
---
Pattern & Interpretation
Main Pattern: Descending trendline + horizontal support = descending triangle (bearish bias unless broken to the upside).
Bearish Signal: Lower highs structure, price still under the descending trendline, supply pressure dominant. A daily close below 0.2494 with high volume = breakdown confirmation.
Bullish Signal: Daily close above the trendline (~0.33–0.35) with strong volume, followed by a successful retest = breakout confirmation. Extra confirmation if price breaks and holds above 0.3891.
---
Scenarios
Bullish
1. Break & daily close above trendline (~0.33–0.35) with rising volume.
2. Retest holds as support.
3. Targets: 0.3891 (+~27%), then 0.5278 (+~72%).
4. Stop-loss: below support box (~0.28 or safer < 0.2494).
Bearish
1. Daily close below 0.2494 with strong volume = breakdown.
2. Measured move target ≈ 0.11.
3. Conservative target: psychological zones 0.18–0.15.
4. Stop-loss for shorts: above 0.305–0.33.
---
Trading Notes
Conservative Long: Wait for breakout & retest above trendline.
Aggressive Long: Enter near support (0.26–0.30) with tight stop below 0.2494.
Short: Only after confirmed breakdown below 0.2494.
Always watch daily close + volume to avoid false signals.
---
Conclusion
Current trend is bearish, but the strong 0.25–0.31 support keeps the possibility of a short-term rebound alive.
Decision point: Breakout above 0.35 → bullish rally, Breakdown below 0.2494 → extended sell-off.
Risk management is key — use stop-losses and position sizing.
#SONIC #SONICUSDT #CryptoAnalysis #SupportResistance #DescendingTriangle #Breakout #Altcoin #RiskManagement
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✅ Get Free Signals! Join Our Telegram Channel Here: t.me/TheCryptoNuclear
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.