Sonic (S) is currently trading at $0.06015, experiencing a significant decline of 10.37% over the last 24 hours. The price has fluctuated between a 24-hour high of $0.067107 and a low of $0.059844, indicating increased volatility within a daily range of 0.007263%.

The trading volume stands at 27,672,635, which corresponds to a market cap volume ratio of 12.16%, suggesting robust trading activity relative to its market cap. However, the short-term moving averages show a bearish trend, with the 8 SMA at $0.0610 reflecting a drop of 1.39% and the 144 SMA at $0.0676 indicating a decline of 11.03%.

The 1-hour RSI is critically low at 23, suggesting an oversold condition, while the 7-day RSI is at 40, indicating potential bearish momentum but not yet oversold. Over the past week, Sonic has decreased by 16.71%, and a more extended analysis reveals a 14-day and 30-day price change of -26.72% and -21.27%, respectively, underscoring a broader downward trend.

With an all-time high of $1.029 reached on January 4, 2025, Sonic has substantial room for recovery, yet current price action and momentum indicators are concerning. The persistent decline, combined with low RSI values, suggests that while a rebound may be possible, caution is warranted in the short term.

Given the current market dynamics and the bearish sentiment reflected in the technical indicators, a Sell rating is advised. Traders should consider exiting positions to avoid further losses until there are clear signs of a trend reversal or positive momentum.