Sonic is forming a falling wedge pattern, and there is an opportunity to buy this coin at the bottom of the trendline. If you want to trade it in the short term, you can sell at around 0.65 USDT for a 50% profit. This can take only a few hours or days to reach the profit target, so you don't need to wait too long as the volatility is really high.
From the Elliott Wave perspective, we have finished the complex WXY correction composed of 2 zigzags (ABC). I believe Sonic will go up in the long term, as the fundamentals are pretty promising. Sonic SVM is the first chain extension on Solana - for games, applications, and industry’s first TikTok App Layer.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.