Sonic (S) is currently priced at $0.078588, showing a strong 24-hour change of 8.04%. The asset has traded within a daily range of $0.00834, reaching a high of $0.080123 and a low of $0.071783, indicating solid intraday volatility.

Volume has been robust at over 50 million, representing 16.82% of the market cap, suggesting healthy trading activity. The hourly moving averages indicate a bullish trend, with the 8 SMA at $0.0777 up by 1.10%, and the longer-term 144 SMA at $0.0731 reflecting a positive increase of 7.46%.

The 1-hour RSI sits at 64, indicating that Sonic is nearing overbought territory, while the 7-day RSI at 52 suggests stability in the mid-range. However, the 14-day and 30-day price changes of -12.81% and -28.54% respectively indicate a longer-term downtrend, which could impact sentiment.

Despite the recent price uptick, the overarching trend remains bearish over a longer time frame. The proximity to the all-time high of $1.029 from January 2025 reinforces the potential for volatility but also highlights the significant distance to recover.

Given the current bullish momentum over the short term, alongside the healthy trading volume, a cautious Buy rating is warranted. However, traders should be mindful of potential resistance at the recent high of $0.080123 and the overarching bearish trend in longer time frames that may limit upside potential.