Is Sonic’s S primed for a rally to $0.7?

Sonic could reach almost 30% compared to its current price, driven by the launch of its virtual payment card and its expansion in DEFI through new partnerships.

According to For analyst Robert Mercer, Sonic has recovered key support and comes out of a downward trend, by implementing what the analyst has described as “$ 0.60 to $ 0.60 and maybe even $ 1.

A graphic shared by the analyst on X highlighted a bullish escape from a descending trend line with a strong dynamic, which is generally a precursor for more upwards.

The well -followed trader crypto echoes this bullish feeling, noting that Sonic found himself at key levels and displays signs of healthy rebounds.

According to Crypto.News data, sonic (S) increased by almost 11% to an intra -day summit of $ 0.55 on March 20, extending its earnings to more than 18% compared to its weekly minimum of $ 0.45. Its market was seated at $ 1.71 billion, while its daily negotiation volume increased by almost double the day before at $ 216 million.

A major catalyst behind this gathering is the launch From Sonic Pay, a virtual payment card developed in collaboration with Redotpay. The card allows users to make payments using USDC.E via Apple Pay and Google Pay, deleting the friction of crypto-fiat conversions and widening the real usefulness of Sonic.

Adding to the bullish feeling, Sonic strengthens his presence in the DEFI space through key partnerships. More particularly, Chaingpt has integrated Its AI NFT generator, its Pad Chaingpt and its Degenpad with the high -speed blockchain infrastructure of Sonic.

The integration optimizes the NFT strike for creators and developers, improves fundraising opportunities for sound -based projects and accelerates the growth of the ecosystem for investors and the wider sound community.

Sonic has also shown strong growth in the DEFI sector. According to To releaseIts total locked value has just reached an $ 841.5 million summit, a significant leap compared to the $ 25.41 million recorded at the start of the year.

He was also one of Blockchains with the fastest growth By TVL in February.

Meanwhile, the layer 1 blockchain is also presented as one of the fastest channels in terms of block time, even by beating major actors like Solana, Arbitrum and Base. See below.

S Price analysis

With the feeling of the community, strongly supported by technical indicators on the positive side also seems to be in favor of a potential race.

On the 4-hour price table / USDT, Sonic continued to negotiate herself above on the parallel channel model descending several weeks which he broke over March 14.

The Aroon Up indicator was 85.71%, while the Down Aroon, at 7.14%, said a strong purchasing momentum. Meanwhile, the relative force index showed a reading of 60, which means that Sonic always has room for gains before facing a sale.

The Altcoin financing rate has remained positive, as well as a leap in an open interest at the time of the Coinglass data. A positive financing rate with the increase in the OI means that an increasing number of derivative traders have placed bullish bets on S.

Such a trend is often associated with growing market and bullish momentum, which could help extend the current rally.

As such, Sonic seems to be positioned for a race for $ 0.7, a level of support that it has not managed to maintain several times since the beginning of the year. At the time of the press, hands up at $ 0.53 per room.

Disclosure: This article does not represent investment advice. The content and equipment presented on this page are only for educational purposes.