- More than 1.2 billion of distinctive symbols are besieged in losses near $ 0.80, which constitutes a strong sale wall.
- The original Sonic’s 6 May Usdc can enhance liquidity and institutional appeal.
Sonic (S), previously known as Fantom (FTM), faced repeated rejection about the level of $ 0.80, indicating a possible ceiling in the near -term. Currently traded at about $ 0.51, the original has decreased to less than the main support areas, including 0.236 Vibonacci level, raising short -term fears of upward investors.
On the series Data From InTothheblock reveals a large barrier at $ 0.80: Nearly 1.22 billion of the distinctive symbols are held in a loss around this price, which constitutes a central “sale wall”.
This group often operates from unreasonable losses as resistance as investors seek to get out of the tie sites. On the contrary, the size of the symbols in the profit – which is purchased between $ 0.30 and $ 0.54 is much lower, enhances the weight of the upper supply.
Reading the flow of Chaikin (CMF) for -0.12 indicates a decrease in purchase pressure, while the RSI is slipped down the neutral 50 mark, indicating the declining momentum.
Analysts warn that unless these indicators are reflected, the distinctive symbol may reconsider support levels at $ 0.45 or, in a more landfill scenario, even less than $ 0.40.
The original USDC ranking brings structural optimism to the ecosystem
Despite these descending signals, the structural catalyst is waving on the horizon. Sonic (USDC) is scheduled to move to the original USDC on May 6, which may redefine liquidity dynamics through the ecosystem. This upgrade will merge the original USDC version of Circle directly on Sonic Blockchain, eliminating dependence on third -party bridges and reducing fragmentation.
The cross -chain transmission protocol will be published in Circle (CCTP) V2 as part of the driver to enable the safe and speed chain transfers. Circle will bear the control of the narcotic USDC contract during a one -week interruption period in the bridge, ensuring a smooth transformation to the original origin with no intervention of the user.
The original USDC will cancel organized liquidity insurance, and institutional slopes on/stop through the circular mint integration and more strict integration with the infrastructure of multi -time liquidity, spoiling the stage to improve capital efficiency and depend on the long term.
Price expectations depend on size, penetration patterns and post -May
Sonic monotheism for 48 days reflects the broader frequency on the market. Although a summary of the trading volume after the USDC advertisement, the data indicates that there is no constant momentum, especially in the resistance areas such as VAP SR, 0.618 Fibonacci, and the high value space.
It is now a possible two -tracks market forecasts. On the upper side, the outbreak can pay above $ 0.60, driven by liquidity flows after May to a range of 0.75-0.80 dollars.
The achievement of a clean outbreak of the past requires $ 0.80 a major incentive, such as institutional flows or the original USDC accreditation within the main Defi protocols. On the contrary, if the upgrade fails to generate a meaningful size, S may return to a decrease in support levels at $ 0.45 and possibly test $ 0.3596.
While the upcoming Sonic upgrade is a clear long -term feature, short -term technology suggests caution until the price is confirmed on the outbreak of a rise with a larger size and momentum.
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