Sonic (S) is currently priced at $0.099149, reflecting a 24-hour decline of 4.41%. The price movement has been constrained within a daily range of $0.005116, with a high of $0.104259 and a low of $0.099143, indicating limited volatility and potential bearish sentiment.

The trading volume of 39,910,195 suggests moderate market interest, with a volume-to-market cap ratio of 10.63%. This level of activity may indicate that traders are actively responding to price fluctuations, but the overall downtrend could deter long-term investors.

Moving averages are trending downwards, with the 8 SMA at $0.1007 reflecting a 1.58% decrease and the 55 SMA showing a 4.06% decline. These indicators signal ongoing bearish momentum as the price consistently remains below key moving averages, reinforcing a negative outlook.

The 1-hour RSI is critically low at 18, suggesting that Sonic is oversold in the short term. Conversely, the 7-day RSI at 44 indicates that the asset has not yet reached oversold levels, pointing to potential for further downside in the coming days.

Over the past week, Sonic has seen a price drop of 11.11%, and both the 14-day and 30-day price changes show declines of 4.92% and 17.76%, respectively. This trend suggests a longer-term bearish environment as the cryptocurrency struggles to regain upward momentum.

With the all-time high of $1.029 reached in January 2025, Sonic has a significant distance to cover to return to previous peaks. The persistent downtrend and current bearish indicators do not favor an immediate bullish reversal, as market sentiment appears to remain weak.

In conclusion, given the current technical indicators, persistent price declines, and low RSI levels, a Sell rating is warranted for Sonic (S). The asset lacks bullish momentum and may continue to face downward pressure, suggesting that investors should consider exiting positions until clearer signs of recovery emerge.