Key Takeaways
Sonic climbs over 11% in 24 hours after a long period of decline. But despite cooling interest in Spot and Future markets, the turnover surge hints at more upside.
After months of bleeding price action, Sonic [S] may finally be showing signs of a real turnaround.
The altcoin jumped by over 11% over the last 48 hours, putting it back in the spotlight after being largely ignored during recent market rotations.
And with its prices not free from the $0.3604 key resistance level, traders are wondering — is this just a relief bounce or the start of something more?
Source: TradingView
Is market structure shifting?
Sonic’s overall structure has remained bearish for a while, with lower highs forming consistently since early Q2. But the recent rally appears to have broken that pattern, pushing price above a key resistance level.
This subtle shift may indicate early signs of a reversal, especially if the current bullish momentum manages to hold.
Adding to the optimism is the spike in circulating token turnover, which suggests more tokens are actively moving — often a sign of renewed interest or repositioning by both retail and whales.
Source: Token Terminal
Bubble maps show caution
Despite its rising turnover, Sonic’s Spot Volume Bubble Map was showing signs of cooling at press time. The market has seen a slowdown in aggressive positioning compared to the peaks earlier this week.
So, while the structure may be improving, some traders are still hesitant to commit heavily — likely due to Sonic’s weak track record in recent months.
Source: CryptoQuant
Still, the Futures Volume Bubble Map had a cooling stream before turning neutral over the last four days, indicating improved activity in the Futures market.
Historically, the Futures market has always been the first to react to volatility, before the spot market.
And in Sonic’s case, the variations paint an optimistic bullish picture.
Source: CryptoQuant
What’s next for Sonic?
If bulls manage to push Sonic past the immediate resistance, the next target sits near the $0.4076 to $0.5438 zone, where the asset prices faced rejections in late May and early June respectively.
For now, momentum is building — but it is fragile. Much of what happens next depends on whether turnover strength can outpace the fading derivative support.
If volume sustains and sentiment holds, Sonic could finally flip its mid-term trend. But any rejection at the higher resistance level might send it into short-term corrections.
At the moment, bulls have the edge.
