Sonic is showing solid strength today with a strong move above key moving averages.
Current price: $0.02476 24h change: +24%
The trend is still looking healthy, RSI is holding around neutral, and buyers continue to defend higher levels. If this support holds, the next move could be very interesting.
Are you accumulating $S here or waiting for a pullback?
$SLX has broken out with strong bullish volume, gaining over 28% in the last 24 hours and briefly touching $0.65 before pulling back. The current price around $0.545 looks like a healthy cooldown rather than a complete trend reversal.
A few things stand out:
• Moving Averages: Price remains above the MA(7), MA(30), and MA(200), showing that the short and medium-term trend is still bullish. The MA alignment also confirms buyers remain in control.
• RSI (64): RSI cooled from near overbought territory and now sits around 64, leaving room for another move higher if buying pressure returns.
• MACD: The MACD remains positive, although the histogram is beginning to shrink. This suggests bullish strength is easing, but there is no confirmed bearish crossover yet.
Key Levels to Watch
Support: • $0.54 to $0.55 (current demand zone) • $0.50 to $0.49 (MA30 area)
Resistance: • $0.57 • $0.65 (recent high)
As long as SLX holds above $0.54, bulls have a chance to retest $0.57 and eventually challenge $0.65 again. A break below $0.54 could lead to a retest of the $0.50-$0.49 support zone before the next move.
Overall, the chart still favors the bulls. What we are seeing now looks more like profit-taking after a sharp rally than a change in trend. Volume and price action around the current support will likely determine the next direction.
NFA. Always manage your risk and trade with a plan.