Sonic (S) is currently trading at $0.305137, reflecting a 1.86% decline over the past 24 hours. The asset has experienced a daily range between $0.302156 and $0.313301, indicating some volatility but relatively low trading activity with a volume of approximately 47.6 million.

The hourly moving averages show a consistent downward trend, with the 8 SMA at $0.3058 down by 0.22%, indicating short-term weakness. The longer moving averages, particularly the 144 SMA at $0.3155 down by 3.29%, suggest a bearish sentiment over the medium term, reinforcing the overall downtrend.

The 1-hour RSI is at 39, indicating that Sonic is nearing oversold conditions but still within a bearish range. Conversely, the 7-day RSI at 49 signals a neutral position, though the asset has seen a negative price change of approximately 0.8% over the past week, and more significantly, a 19.09% decline over the last month.

Sonic’s all-time high of $1.029, reached in early January 2025, remains far above the current price, suggesting a significant potential upside but also highlighting the distance needed to recover. The volume-to-market cap ratio of 4.84% indicates moderate trading interest but does not suggest strong buying pressure.

Given the current technical indicators pointing towards a bearish trend, combined with a long-term downtrend in price over the past month, it is prudent to maintain a cautious stance. Therefore, the rating for Sonic (S) is a Sell, as the asset currently lacks bullish momentum and is at risk of further declines before any potential recovery.