Sonic (S) Surges in February — Momentum Builds as Price Nears $1

Key Takeaways

• Sonic’s (S) price has increased by 100% in February.
• The price follows a long-term support trend line.
• Can S sustain its increase and clear the 2024 highs?

Sonic has fallen significantly since the start of December, a drop that continued in 2025.

However, Sonic has led the crypto market gains in February, doubling after breaking out from a descending wedge pattern. The S price reached a new yearly high on Feb. 20.

Now, S is testing a critical Fibonacci resistance level that could determine whether the rally continues toward its 2024 highs. Let’s dive into the charts to see what’s next.

Sonic Price Breaks Out

The weekly time frame Sonic price chart shows an increase alongside an ascending support trend line for 490 days. More recently, Sonic bounced at the trend line in February (green icon), beginning the ongoing upward movement.

The S price created a bullish engulfing candlestick next week and accelerated the increase this one by breaking out from the $0.58 horizontal area.

This critical horizontal area has, at times, acted as both support and resistance. After the most recent breakout, it will likely act as support again.

The next resistance is at the 2024 high of $1.40. A breakout above it could take the price to the all-time high region of $3.20.

*Note: The Fantom chart is used instead of the Sonic one because of the availability of more price history.

Technical indicators are gradually turning bullish. The Relative Strength Index (RSI) just moved above 50 while the Moving Average Convergence/Divergence (MACD) almost increased above 0 (black circles).

The latter is also close to making a bullish cross.

A positive weekly close is needed to confirm these two developments, paving the road for a new yearly high.

Increased Sonic Activity

Besides the price increase, Sonic’s a ctivity has increased similarly . Since its launch, Sonic has processed over 25 million transactions and has 758,000 distinct addresses.

The blockchain has more than $500 million in Total Value Locked and has received over $316,000 in transaction fees.

The blockchain reached a $129 million peak of daily trading activity on Feb. 18, led by the ShadowOnSonic Decentralized Exchange (DEX), which accounts for over 70% of the activity. Cumulative DEX activity has crossed $2 billion since launch.

Besides DEXes, SiloFinance leads the charge in the lending and borrowing market, with a daily peak volume of $125 million and cumulative volume of $1.3 billion.

Critical Resistance Ahead

The daily time frame chart shows that the S price broke out from a descending wedge, which is considered a bullish pattern.

However, the wave count shows a completed five-wave downward movement (red), indicating that the long-term trend is bearish and the ongoing increase is a relief rally.

The S price currently trades inside the 0.5-0.618 Fibonacci retracement resistance area of $0.90 – $1.30. If the upward movement is a relief rally, S will get rejected at this level and create a lower high.

Technical indicators do not suggest this is the case since the RSI and MACD are both increasing, and neither has generated bearish divergences.

Since the weekly time frame is bullish but the daily one leans bearish, the six-hour one breaks the deadlock by providing a bullish S prediction.

The short-term chart presents a parabola and a five-wave increase (green) where wave three has extended.

The sub-wave count is black, showing that S is in sub-wave three of wave three, which is often the most rapid portion of the upward movement, explaining the parabolic S increase.

If the count is accurate, Sonic will complete wave three before validating the parabola in wave four. Then, the fifth and final wave will take the S price to new highs.

Alternatively, a strong rejection at the 0.5-0.618 Fibonacci area and breakdown from the parabola will invalidate the count, instead suggesting the trend is bearish. Currently, this is the less likely scenario.

Sonic Rally Continues

The Sonic price shows bullish signs along multiple time frames. A breakout above the current Fibonacci resistance can take the S price above its 2024 highs and possibly lead to a new all-time high.