Is Sonic prepared by a rally at $ 0.7?

Sonic could gather almost 30% of its current price, promoted by the launch of its virtual payment card and its expansion in DEFI through new associations.

<a target="_blank" href="https://x.com/Robert_Klondike/status/1902352148815385053″ target=”_blank” rel=”nofollow”>According For analyst Robert Mercer, Sonic has recovered the key support and is leaving a downward trend, configuring what the analyst described as a “scheduled” extends to $ 0.60– $ 0.70 and possibly even $ 1.

A picture shared by the analyst in x highlighted an upward breakdown of a line of descending trend with a strong impulse, which is generally a precursor for more rise.

The well -followed merchant crypto Nova echoed this upward feeling, pointing out that Sonic has turned on the key levels and is showing healthy rebound signs.

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According to crypto.news data, Sonic (s) rose almost 11% to a maximum intradic of $ 0.55 on March 20, extending their profits to more than 18% from its weekly minimum of $ 0.45. His market was sitting at $ 1.71 billion, while its daily negotiation volume increased almost double the previous day by $ 216 million.

An important catalyst behind this rally is the <a target="_blank" href="https://x.com/SonicLabs/status/1902364163516842210″ target=”_blank” rel=”nofollow”>launch From Sonic Pay, a virtual payment card developed in collaboration with Redotpay. The card allows users to make payments using USDC.

In addition to the upward feeling, Sonic is strengthening its presence in space defi through key associations. The most notable, Chaingpt has <a target="_blank" href="https://x.com/Chain_GPT/status/1902314125876699618″ target=”_blank” rel=”nofollow”>integrated Its ai nft generator, Chaingpt Pillow and Delgenpad with the high -speed blockchain infrastructure of Sonic.

Integration optimizes nft minting for creators and developers, improves fundraising opportunities for Sonic -based projects and accelerates ecosystem growth for investors and for the broader sound community.

Sonic has also shown strong growth in the Defi sector. According DefillIts total blocked value only reached a historical maximum of $ 841.5 million, a notable leap of the $ 25.41 million registered at the beginning of the year.

It was also one of the fastest growth blockchains of TVL in February.

Meanwhile, the block chain of layer 1 is also being promoted as one of the fastest chains in terms of block time, even defeating the main players like Solana, the referee and the base. See below.

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https://twitter.com/crypto_rand/status/1902391007603224810

S Price analysis

With the feeling of the community that is strongly leaning in the technical indicators of the positive side they also seem to be in favor of a possible rise career.

In the 4 -hour/USDT price table, Sonic continued to function higher during the descending parallel channel pattern of several weeks that broke on March 14.

The Arono UP indicator was at 85.71%, while the Aron Down, at 7.14%, pointed to a strong purchase impulse. Meanwhile, the relative force index showed a reading of 60, which means that Sonic still has space for profits before facing a sale of a sale.

Altcoin's financing rate remained positive, along with a jump in open interest at the time of publication by Coinglás data. A positive financing rate with the increase in OI means a growing number of derivative merchants who have been betting on S.

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

As such, Sonic seems to be positioned for a race towards $ 0.7, a support level that has not achieved on multiple occasions since the beginning of the year. At the time of publication, S exchanged Hands at $ 0.53 per currency.