SONIC/USDT — Descending Triangle at Key Support!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.
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