Sonic (S) is currently trading at $0.09531, reflecting a 24-hour decline of 1.96%. The daily price action has shown a high of $0.100887 and a low of $0.09483, indicating a narrow daily range of 0.006057%, suggesting low volatility in the market.

Trading volume stands at approximately 51.31 million, translating to a volume-to-market cap ratio of 14.25%. The hourly moving averages indicate a bearish trend, with the 8 SMA at $0.0965, 13 SMA at $0.0974, and 21 SMA at $0.0977, all showing negative changes, while the 55 SMA at $0.0945 shows a slight uptick, indicating potential support.

The 1-hour Relative Strength Index (RSI) is at 43, approaching the neutral zone, while the 7-day RSI at 62 indicates that the asset may be nearing overbought territory. Price changes over the last week, 14 days, and 30 days show increases of 24.67%, 35.13%, and 1.60%, respectively, reflecting strong short-term momentum.

The all-time high for Sonic remains at $1.029, achieved on January 4, 2025, suggesting significant upside potential from the current price level. Despite recent price drops, the longer-term RSI and price changes indicate overall bullish sentiment still exists, provided it can maintain above the 55 SMA support level.

Given the current technical indicators, the bearish short-term trend may present an opportunity for re-entry, particularly if the price can stabilize above $0.0945. Therefore, the recommendation is to Hold Sonic (S) at this moment, monitoring closely for signs of reversal or further declines.