Sonic (S) is currently trading at $0.095026, reflecting a significant decline of 10.76% over the past 24 hours. The price has tested a daily low of $0.094023, indicating bearish sentiment, with the daily range of 0.014727% suggesting limited volatility.

Volume for the last 24 hours stands at 46,473,742, corresponding to a Vol/Market Cap ratio of 12.92%, which indicates relatively healthy trading activity despite the price drop. This trading volume, while significant, is insufficient to counteract the downward trend observed in the price and RSI indicators.

The hourly moving averages are all trending downwards, with the 8 SMA at $0.1074 showing a decline of 11.50%, and the longer-term 144 SMA at $0.1102 reflecting a decline of 13.76%. Such consistent underperformance across moving averages reinforces the bearish momentum, suggesting that short-term traders are likely exiting positions.

The 1-hour RSI of 18 is in the oversold territory, which typically indicates potential for a bounce; however, the 7-day RSI at 41 shows that the asset is still in a weak state overall. The 7-day, 14-day, and 30-day price changes of -10.30%, -25.02%, and -32.08%, respectively, reflect a sustained downtrend, indicating persistent selling pressure.

With an all-time high of $1.029 reached on January 4, 2025, the current price represents a significant depreciation of over 90%. Given the technical indicators and current price action, there is no immediate catalyst for a bullish reversal, suggesting that a further decline is plausible.

Considering the overall bearish trend, negative price momentum, and the RSI indicators, the recommendation for Sonic (S) is to Sell. The persistent downtrend and lack of bullish signals indicate that the asset is not likely to recover in the near term.