Why Is Sonic (S) Price Up Today? Analyst Identifies ‘Buy Zones’

The Sonic price is a top crypto gainer today with around 12% pump, now trading exactly at $0.50. Holders should be fairly happy with this

The Sonic price is up today and a top crypto gainer with around 12% pump, now trading exactly at $0.50. This should leave the holders in good spirits considering the broader market is sluggish and BTC price actually lost 1.5% in value in the last 24 hours.

One of the strong Sonic supporters on X is Jagoilio who spoke about what's driving this surge. According to him, we shouldn't be surprised by the recent price movement for Sonic (S) if we consider the bigger picture.

"Every token managed to take a beating in the last 1-2 months – you'd be hard strapped to find a top 100 coin that hasn't. For Sonic, this is one of the great opportunities. If the downtrend breaks, $0.76-$0.79 imminent as long as market-wide strength allows it."

Simple for $S @SonicLabs.Every token has managed to take a beating in the last 1-2 months – you'd be hard strapped to find a top 100 coin that hasn't. For Sonic, this is one of the great opportunities. If the downtrend breaks, $0.76-$0.79 imminent as long as market-wide strength allows it. As the 0.886 fib for Sonic is 0.30 and the 0.786 fib is 0.45, any price in this range (which I've highlighted in yellow) is a great entry for those wanting to accumulate more Sonic tokens. Of course, this is not financial advice. We recommend eToro

According to Jagoilio, we can accumulate Sonic in the range of $0.30-$0.45 as this support zone is "bulletproof."

"This is also the last support zone (0.786 fib) before we get into uncharted territory with Sonic and the potential for new lows is slim to none (which we've seen in the past, Sonic is great at breaking steep and fast downtrends). We'll also likely see BTC make some serious moves around April, which Sonic will follow suit."

According to Jagoilio, we can accumulate Sonic in the range of $0.30-$0.45 as this support zone is "bulletproof."

"This is also the last support zone (0.786 fib) before we get into uncharted territory with Sonic and the potential for new lows is slim to none (which we've seen in the past, Sonic is great at breaking steep and fast downtrends). We'll also likely see BTC make some serious moves around April, which Sonic will follow suit."