Sonic (S) Achieves 54% Weekly Surge, Testing $1 Resistance Level

Sonic (S) Leads the Crypto Market

Sonic (formerly Fantom) has seen a significant price surge, testing key resistance levels that could push it towards the $1 mark.

Post-rebrand, Sonic's price reached $0.80 twice after upgrading from FTM tokens at a 1:1 ratio on January 13.
The cryptocurrency achieved a yearly high of $0.84 before retracing to $0.50.
Over the past month, it fluctuated between $0.40 and $0.60 before breaking out this week.
Total Value Locked (TVL) surged 300% in less than two months, increasing from $405.39 million to $635.31 million.
Sonic is fully unlocked and offers higher throughput compared to competitors like Solana.
It recorded a 54.61% increase over the past week and a 20% jump in the last 24 hours.
Price broke above the $0.60-$0.65 range, confirming a breakout from a one-month downtrend.
Sonic's price recently hit $0.87, with analysts suggesting potential profit-taking may occur soon.
Current trading price is $0.86, reflecting a 66% monthly increase.

Analysts remain optimistic about Sonic’s future performance, indicating it may continue its bullish trend if it holds current levels. Profit-taking may lead to a retracement towards the $0.60 support zone.