The post Sonic (prev. FTM) S Price Prediction: Double Bottom in Play? Key Levels to Watch This Week appeared first on Coinpedia Fintech News
Sonic (formerly Fantom) is currently trading around $0.34, rebounding from recent lows after the airdrop-driven dip and token burn event. Despite short-term pressure from distribution, the token is showing signs of stabilisation above the key $0.316 support level. Accumulation at dips, coupled with steady exchange volume, hints at a possible recovery phase. In the short term, if bullish momentum strengthens, Sonic price could retest $0.41, with extended upside toward $0.50. However, a breakdown below support may drag it toward $0.30.
Since the start of this week, Sonic’s (S) price has been influenced by several key factors. The Season 1 airdrop released about 27.75 million tokens, causing a short-term price dip due to increased selling pressure. However, Sonic Labs simultaneously burned 1.86 million tokens, reducing supply and supporting price stability. Increased visibility from Coinbase listing news and Binance wallet integration boosted trading volume by up to 77%, fueling buying interest.
Besides, on-chain data shows growing accumulation near the $0.316 support level. Technical indicators reveal a bullish setup, with potential upside toward $0.45–$0.50 if resistance around $0.42 is broken.
As seen in the above chart, the Sonic price has formed a double-bottom pattern and is heading to test the resistance zone just below the neckline of the pattern. Meanwhile, the volume remains within a negligible range. While the supertrend has flipped bearish, the MACD shows a drop in selling pressure, and the levels are about to undergo a bullish crossover. Once the price reaches the resistance zone between $0.3832 and $0.3926, the supertrend is expected to flip back to bullish, which may begin a fresh bullish wave.
Now the question arises, will Sonic (S) price reach $1 in 2025?
Sonic (S) reaching $1 in the near term is ambitious but not impossible. Given the current bullish technical setup and growing on-chain accumulation, a steady climb toward $0.50 to $0.60 seems more realistic in the short to mid-term. Breaking above these levels with strong volume could pave the way for a longer-term push toward $1. However, this depends on sustained ecosystem growth, reduced selling pressure from airdrops, and favorable broader market conditions.