So, here we are—Sonic has decided to crash the party and slide below the point of control like it’s trying to escape an awkward conversation. 🥴 Bearish vibes? Oh, absolutely! It’s practically throwing itself into a major confluence zone like it’s diving into a pool of despair.
And now, it’s waltzing toward the value area low, where, fingers crossed, we might catch a glimpse of its next move. Is it a bottoming structure or just the floor of the stock exchange crying for help? 🤔 Who knows!
- Sonic threw a tantrum and closed below the point of control—talk about being dramatic! 🥳 Major bearish continuation vibes heading straight to the value area low.
- This support zone? It’s like the yearly low’s best friend and high-timeframe structure’s secret lover.
- For a comeback, we need a bottoming pattern and a rise in volume. Basically, give Sonic some caffeine to regain its bullish spirit!
The most recent candle close below the point of control—wow, talk about commitment issues! 🤷♀️ This has unleashed a strong wave of bearish energy, rushing Sonic toward the value area low. And you guessed it—this spot is extra special since it aligns with the yearly low and a significant high-timeframe support around $0.26. Classic Sonic, failing to reclaim the value area high and getting rejected at daily resistance. Sigh, not the hero we wanted.
Key technical points:
- Bearish Breakdown Confirmed: Price closed lower than a limbo champion and has absolutely zero chance of hugging the value area high.
- Confluence at Value Area Low: This level is basically Sonic’s reunion point with its yearly low and high-timeframe support. 🥳
- Volume Profile Weakness: Low demand at highs, followed by bearish volume, the classic fail for our dear Sonic.
Sonic’s struggle to reclaim the value area high has become the plot twist we didn’t see coming. After a failed bullish retest, it couldn’t close above that resistance—not on a daily basis, anyway. This disastrous breakdown, paired with a weak volume profile, leaves us wondering if there’s anyone left in the buying department at all. Spoiler: there isn’t.
Now, we find ourselves swirling toward a realm with so many technical significances it deserves its own Netflix series. We’re talking the value area low, the yearly low, and high-timeframe support around $0.26. If there was ever a place to turn things around, it’s here. But alas, bearish volume still seems to be throwing down its troops, hinting at possible drama just around the corner. ⚔️
For a glorious reversal to happen, Sonic might need to sweep the yearly low and pull off a double bottom or maybe some bullish divergence. Think of it as a power-up before embarking on any sustainable rally. But, until then, the structure remains about as cheerful as a rainy Monday morning, and we might just see prices seeking out those lower liquidity zones. If a base decides to form around here, and like a caffeinated crowd, the volume begins to rise with demand, we could potentially set the stage for a return to the point of control—or dare we dream, the all-time high? 🤩
What to expect in the coming price action
Sonic is currently auditioning for the role of “Value Area Low,” a crucial support zone. Will it nail the audition and spark a beautiful reversal to higher levels? Or will bearish volume and its tendencies to plummet through support end this performance with a dramatic exit? Stay tuned, folks! 🎭
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2025-07-29 19:07