Hello Traders,
Today, we’re analyzing SUSDT (SonicCoin), which is currently trading within a descending channel—a bearish pattern where price tends to gravitate toward key boundary points. Recently, price action was rejected at channel resistance, an area that confluences with the value area high at 0.6185. This rejection has shifted the previous uptrend into a more bearish outlook, as price has now taken out prior lows, confirming the rejection as strong.
At present, SonicCoin is trading around the POSC (Point of Structural Control), hovering near the channel midpoint while liquidity continues to build. If buyers fail to reclaim the channel high resistance, this liquidity could fuel a cascade move lower, potentially sending price towards the $0.26 support region.
Points to Consider
• Descending Channel Structure – Price remains within a bearish pattern, respecting key resistance and support levels.
• Liquidity Build-Up at Midpoint – Current price action is consolidating around the channel midpoint, which could lead to a breakout or further downside.
• Potential Drop to $0.26 – If strength does not return, a liquidity-driven move toward key support could be next, offering a potential long setup from lower levels.
Market Outlook & Trade Considerations
SonicCoin is currently range-bound within a downtrending environment, making it a market that requires careful risk management. If price action remains weak below resistance, the probability of a breakdown into $0.26 increases. However, should buyers step in at that level, it could present an opportunity for a long play back into channel resistance.
For now, traders should monitor whether price can regain strength above channel resistance or whether the liquidity build-up leads to a deeper correction. Confirmation signals will be crucial before entering any trades.
Overall, SonicCoin remains in a bearish structure for the time being. Until price decisively breaks above resistance, the risk of further downside remains in play
Today, we’re analyzing SUSDT (SonicCoin), which is currently trading within a descending channel—a bearish pattern where price tends to gravitate toward key boundary points. Recently, price action was rejected at channel resistance, an area that confluences with the value area high at 0.6185. This rejection has shifted the previous uptrend into a more bearish outlook, as price has now taken out prior lows, confirming the rejection as strong.
At present, SonicCoin is trading around the POSC (Point of Structural Control), hovering near the channel midpoint while liquidity continues to build. If buyers fail to reclaim the channel high resistance, this liquidity could fuel a cascade move lower, potentially sending price towards the $0.26 support region.
Points to Consider
• Descending Channel Structure – Price remains within a bearish pattern, respecting key resistance and support levels.
• Liquidity Build-Up at Midpoint – Current price action is consolidating around the channel midpoint, which could lead to a breakout or further downside.
• Potential Drop to $0.26 – If strength does not return, a liquidity-driven move toward key support could be next, offering a potential long setup from lower levels.
Market Outlook & Trade Considerations
SonicCoin is currently range-bound within a downtrending environment, making it a market that requires careful risk management. If price action remains weak below resistance, the probability of a breakdown into $0.26 increases. However, should buyers step in at that level, it could present an opportunity for a long play back into channel resistance.
For now, traders should monitor whether price can regain strength above channel resistance or whether the liquidity build-up leads to a deeper correction. Confirmation signals will be crucial before entering any trades.
Overall, SonicCoin remains in a bearish structure for the time being. Until price decisively breaks above resistance, the risk of further downside remains in play
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.