$S Surged Over 100% — Is a 15% Correction Coming Next?
Sonic has delivered an explosive rally over the past five days, supported by improving tokenomics, ecosystem developments, and increased leveraged trading activity.
Another major event is now approaching.
Sonic has set October 15 as the final deadline for previous airdrop claims. Approximately 32.69M S remains unclaimed, and tokens still unclaimed after the deadline can be permanently burned — an event that could influence expectations around future supply.
Technical Analysis
On the 1-hour timeframe, Sonic is approaching a major resistance
confluence:
Resistance Zone: $0.0758–$0.1147
Cumulative Short Liquidation Leverage: $0.0742–$0.0782
Potential Reversal Zone (PRZ): $0.0785–$0.0874
Considering the strength of this resistance structure, I do not expect Sonic to achieve a confirmed breakout on its first attempt.
From an Elliott Wave perspective, S also appears to be completing Wave 5, increasing the probability that the current rally is approaching a short-term exhaustion point.
I expect a correction of at least 15% to become possible, with the Cumulative Long Liquidation Leverage at $0.0621–$0.0645 becoming the first major downside area to watch.
After a 100%+ rally, the combination of the PRZ, Resistance Zone, liquidation cluster, and potentially completed Wave 5 makes this one of the most important areas on the chart.
What comes first for Sonic?
🟢 Breakout above the PRZ
🔴 15% correction toward liquidity
#SONIC
Sonic has delivered an explosive rally over the past five days, supported by improving tokenomics, ecosystem developments, and increased leveraged trading activity.
Another major event is now approaching.
Sonic has set October 15 as the final deadline for previous airdrop claims. Approximately 32.69M S remains unclaimed, and tokens still unclaimed after the deadline can be permanently burned — an event that could influence expectations around future supply.
Technical Analysis
On the 1-hour timeframe, Sonic is approaching a major resistance
confluence:
Resistance Zone: $0.0758–$0.1147
Cumulative Short Liquidation Leverage: $0.0742–$0.0782
Potential Reversal Zone (PRZ): $0.0785–$0.0874
Considering the strength of this resistance structure, I do not expect Sonic to achieve a confirmed breakout on its first attempt.
From an Elliott Wave perspective, S also appears to be completing Wave 5, increasing the probability that the current rally is approaching a short-term exhaustion point.
I expect a correction of at least 15% to become possible, with the Cumulative Long Liquidation Leverage at $0.0621–$0.0645 becoming the first major downside area to watch.
After a 100%+ rally, the combination of the PRZ, Resistance Zone, liquidation cluster, and potentially completed Wave 5 makes this one of the most important areas on the chart.
What comes first for Sonic?
🟢 Breakout above the PRZ
🔴 15% correction toward liquidity
#SONIC