Almost 11 times its normal volume. $S traded about 39.2 million dollars in the last 24 hours against a weekly average closer to 3.6 million, and price is up 26.9% to 0.06088.
That ratio is the biggest thing on its chart. Price moves can come from thin books, but a jump this large in volume means a lot of new traders showed up at once. Over seven days S is up 49.5%, so nearly all of the week's gain came today. BTC did 0.88% in the same window.
The market mood helps too. Fear & Greed went from 61 to 69 overnight, the biggest one-day jump I have noted this week.
Price is still 11.8% under the weekly high of 0.06901, and hourly RSI is 65.1. That is warm, but it is not the 85 to 90 readings I saw on MAGIC and STRK right before they pulled back hard.
I lean positive while S holds above 0.055. Under that, today's move is mostly gone. The confirmation I am waiting for is a move through 0.06901 with volume still several times normal. If volume drops back toward average in the next day while price stalls, I will read it as a one-day event.
#Sonic
That ratio is the biggest thing on its chart. Price moves can come from thin books, but a jump this large in volume means a lot of new traders showed up at once. Over seven days S is up 49.5%, so nearly all of the week's gain came today. BTC did 0.88% in the same window.
The market mood helps too. Fear & Greed went from 61 to 69 overnight, the biggest one-day jump I have noted this week.
Price is still 11.8% under the weekly high of 0.06901, and hourly RSI is 65.1. That is warm, but it is not the 85 to 90 readings I saw on MAGIC and STRK right before they pulled back hard.
I lean positive while S holds above 0.055. Under that, today's move is mostly gone. The confirmation I am waiting for is a move through 0.06901 with volume still several times normal. If volume drops back toward average in the next day while price stalls, I will read it as a one-day event.
#Sonic