Sonic

<ul>
 <li>Sonic formed a cup and handle pattern, signaling potential upside continuation.</li>
 <li>MACD nears a bullish crossover, while money flow remains a concern.</li>
 <li>Strong long volume dominance supports a possible breakout above resistance.</li>
</ul>
<p>Sonic has captured traders' attention after posting <a href="https://cryptonewsland.com/sonic-soars-over-6-can-a-successful-breakout-send-it-toward-1/" rel="noopener noreferrer nofollow">strong daily gains</a> and building a promising chart pattern. Buyers continue stepping into the market, pushing price toward a crucial resistance area. However, the next move could decide whether this rally expands further or loses momentum. Technical signals offer a mixed picture. Some indicators support a bullish breakout, while others suggest caution. As a result, traders are now focusing on one key level that could shape Sonic's direction.</p>
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<h2 class="wp-block-heading" id="cup-and-handle-pattern-signals-potential-upside">Cup and Handle Pattern Signals Potential Upside</h2>
<p>Sonic currently trades within a <a href="https://www.investopedia.com/terms/c/cupandhandle.asp" rel="noopener noreferrer nofollow">cup and handle formation</a>. Traders often view this pattern as a bullish setup. A breakout above the neckline usually confirms stronger upward momentum. Price now approaches that important resistance zone. Buyers must push above the neckline to validate the pattern. If that happens, Sonic could target higher levels in the coming sessions.</p>
<p>The first upside target sits near $0.049. That level represents a gain of roughly 15% from the neckline. <a href="https://cryptonewsland.com/sonic-token-gains-7/" rel="noopener noreferrer nofollow">Stronger momentum</a> could drive the price toward $0.0586. Such a move would represent an advance of about 35%. The setup remains incomplete until resistance breaks. Sellers could still defend the neckline. Rejection at that level may lead to consolidation. Price could also form a larger handle pattern before another attempt higher.</p>
<p>A deeper decline would weaken the <a href="https://www.luxalgo.com/blog/bullish-chart-patterns-explained/" rel="noopener noreferrer nofollow">bullish structure</a>. Such a move could invalidate the current setup and shift sentiment. Indicator readings add another layer to the story. The Moving Average Convergence Divergence, or MACD, suggests growing bullish potential. The indicator now sits close to forming a golden cross.</p>
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<h2 class="wp-block-heading" id="weak-money-flow-remains-the-main-concern">Weak Money Flow Remains the Main Concern</h2>
<p>While MACD shows promise, the Money Flow Index tells a different story. Recent declines in MFI point to capital leaving the market. That trend deserves attention because sustained outflows often create selling pressure. The situation may not be entirely bearish. Profit-taking appears more likely than widespread panic selling. MFI currently reads 57.4, which remains within a positive range.</p>
<p>For a stronger rally to develop, money flow should turn higher again. Combined with a MACD golden cross, such a move would improve the bullish outlook considerably. Market positioning still favors buyers. Data from the Long/Short Ratio shows long positions account for 53% of perpetual market volume. Short positions make up the remaining 47%.</p>
<p>Buying activity also dominates across the largest trading venues. Consistent long volume often supports higher prices. Continued demand could help Sonic overcome neckline resistance and unlock the next phase of growth. For now, traders should watch the neckline closely. A breakout could trigger gains toward $0.049 and $0.0586. However, weakening money flow remains the key risk that could delay the move.</p>

Sonic Eyes Higher Gains, But Weak Money Flow Puts This Level in Focus

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