Date: Sat, April 26, 2025 | 05:55 AM GMT
After a rough start to 2025, where even Ethereum (ETH) tanked by 45% in Q1, the crypto market is finally flashing signs of life. ETH is up 16% over the past week, and this bullish momentum is now spilling over into major Altcoins.
One such altcoin making a strong comeback is Sonic (S). After experiencing a heavy sell-off, S has surged by nearly 17% over a week—cutting its year-to-date losses down to about 32%. And now, a key harmonic pattern is forming, hinting that the recovery may not be over just yet.
Harmonic Pattern Signals More Upside Move
Looking at the daily chart for Sonic (S) with Heikin Ashi candles, a Bearish Butterfly pattern has clearly developed — but interestingly, it points to more upside before any potential reversal happens.
The downtrend began in late March when S failed to hold above the $0.6372 level (point X). From there, the price fell sharply, bottoming out around $0.3787 (point A) on April 9.
After finding a strong support zone, S reversed higher, forming a healthy BC retracement and now building the CD leg. Currently, S trades near $0.54, showing steady bullish momentum within the harmonic setup.
The D point of this pattern — the typical reversal zone — is projected at the 1.272 Fibonacci extension of the XA leg, which lands near $0.7075. This suggests that S could still rally another 30% from the current levels before facing any strong selling pressure.
What’s Next for Sonic (S)?
Sonic (S) is trading in a critical resistance zone on the CD leg — an area that could trigger either profit-taking or a quick acceleration depending on momentum.
Before reaching the final D point, the coin must first break above the intermediate resistance at $0.5859, which coincides with the 0.786 Fibonacci retracement level. A solid breakout from there could send S flying toward the final butterfly target much faster.
On the technical side, the structure remains bullish. The MACD indicator is also turning positive, with a bullish crossover showing early signs of growing momentum. Moreover, the recent series of higher lows supports the idea that buyers are stepping in consistently.
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