Sonic token price shows weakness after rejection from $0.17 resistance. Price trades near the value area low, with risks of a deeper correction toward untapped yearly lows.
Summary
- Sonic token rejected at $0.17 resistance, confirming continued weakness.
- Value area low under threat, signaling potential breakdown.
- Failure to hold could lead to a new yearly low formation.
Sonic (S) token price continues to exhibit sustained weakness as price action struggles to maintain structure above key levels. The latest rejection around $0.17 has triggered renewed downside momentum, pushing price back toward the value area low, a critical support zone now under heavy pressure.
With bearish momentum strengthening and daily structure showing no signs of reversal, the probability of a deeper corrective move continues to rise as sellers maintain control of the market.
Sonic token key technical points:
- Rejection at Resistance: Price faced a strong rejection at $0.17, marking renewed selling pressure.
- Value Area Low Under Pressure: The current support zone is weakening and may not hold if volume remains bearish.
- Downtrend Intact: Sonic token remains in a broader bearish market structure, with risk of new yearly lows.
From a technical perspective, Sonic token’s recent price action reinforces its bearish bias. The rejection from $0.17confirms that buyers failed to reclaim resistance, allowing the market to continue trending lower. As a result, price has expanded downward toward the value area low, which now serves as the last line of short-term defense.
The value area low is “barely holding,” suggesting exhaustion among buyers. A decisive breakdown below this region would confirm a continuation of the bearish expansion, likely targeting the untapped yearly low that remains untested. This could establish a new low for the year if the downward momentum persists.
Additionally, the lack of strong volume 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 decisively bearish. Price has continued to print lower highs and lower lows, a classic hallmark of sustained downtrend behavior. The inability to reclaim higher resistance levels, such as the $0.17 region, signals a lack of strength and confirms that sellers are still dictating direction.
What to expect in the coming price action
If the value area low fails to hold, Sonic token could extend its correction to test the untapped yearly low, where a temporary bounce or accumulation phase might occur.
Conversely, if price stabilizes above this support and volume begins to recover, a short-term consolidation range between $0.17 resistance and the current support could develop before any meaningful trend shift.
