Sonic’s has become the most efficient on the market in the last 24 hours, increasing by 6% as the Haussier momentum is built.
The price of the Altcoin has joined regularly in the past few days and is now ready to exceed a key mobile average. What does this mean for S holders?
Sonic (s) flashes up bullies as the purchase pressure increases
Currently, s approaches its 20 -day exponential mobile average (EMA) and seems ready to cross above – a movement which often signals the continuation of an upward trend.
The 20 -day EMA follows the average price of an asset in the last 20 days of negotiation, weighing more recent prices to determine short -term trends. A gathering to this key mobile average indicates a positive change in market momentum. It suggests an increasing upper force on the S market and refers to the probability of an extensive rise.
In addition, the rays index of the elders is posted a positive value, strengthening the strength of the purchase of the pressure and the growing demand for investors. To date, metric is 0.036.
The indicator measures the balance between the upward pressure and the market on the market. When the index is positive, this means that buyers are stronger than sellers, indicating growing demand and an additional price increase in price increase.
S test the dynamic resistance to $ 0.55 – an overtaking of $ 0.63 in sight?
The 20 -day EMA is currently a dynamic resistance greater than its price at $ 0.55. A successful violation of this level would intensify the upward trend of the token.
If the price zone of $ 0.55 goes to a support floor, it could propel the value of S ‘beyond $ 0.57 and to $ 0.63.
On the other hand, if the Bears take over the domination of the market, this bullish projection will be invalidated. In this scenario, S could resume its downward trend, lose recent gains and fall to $ 0.49.
If the Bulls cannot defend this support, the price of S could drop to $ 0.40.
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