Sonic (S) price surged 12%, trading at $0.5150; bullish indicators hint at a potential rally ahead.
RSI and MACD show bullish momentum; a break above $0.608 could push Sonic toward $0.786 or higher.
Sonic (S) price, trying to make a comeback, surged 12% in the intraday session and broke above the 50-day EMA mark. Buyers are looking active at the lower levels. Both 20-day and 50-day EMA curve is headed upside hinting bullishness.
At the end of February, Sonic’s price hit a high of $1 but halted as buyers failed to maintain the buying momentum. As a result, bears took the advantage and pulled the price down below key EMAs.
According to SonicScan, over the last week, the transactions on Sonic have increased. On Saturday, March 8, the transaction count stood at 391,874, and currently, it has increased to 645,430. Moreover, the community is also extremely bullish on S, with 86% of community sentiments being on the bullish side.
According to CoinMarketCap data, at the time
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