Sonic / USDT – Higher Timeframe Analysis (Weekly)
Market Structure
The pair is in a strong long-term downtrend.
Price has been making lower highs and lower lows, showing sustained selling pressure over many months.
The recent candles show loss of bearish momentum, suggesting sellers may be getting exhausted.
Current Price Action
Price is currently trading around 0.089 – 0.09, very close to historical lows.
The small base / box you marked at the bottom looks like a demand zone where buyers are starting to step in.
Recent candles are small-bodied, which often signals indecision or accumulation after a strong drop.
Support & Risk Zone
📌 Key Support Area:
Around 0.075 – 0.09
If this zone holds, a relief rally or trend reversal attempt becomes possible.
A weekly close below this zone would invalidate the bullish idea and open the door for further downside.
Bullish Scenario (Recovery Move)
If price holds this base and breaks above the last lower high, we could see a strong corrective move upward.
The vertical projection on your chart suggests a high-risk, high-reward upside move if sentiment flips.
🎯 Major Upside Target (Aggressive):
Around 0.64 (long-term target, not immediate)
This would likely require:
A confirmed trend reversal
Higher highs + higher lows
Increased volume
⚠️ This is not a guaranteed move, but a possible expansion if accumulation turns into demand.
Bearish Scenario
Failure to hold the current base
Strong bearish weekly close below support
This would confirm continuation of the downtrend
Summary
🔴 Long-term trend: Bearish
🟡 Short-term view: Potential accumulation
🟢 Opportunity: Speculative bottom play
⚠️ Risk: Still very high until trend reversal confirmation
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