Sonic (S) is currently priced at $0.093337, reflecting a significant 24-hour decline of 13.47%. The price has fluctuated between a high of $0.108077 and a low of $0.091501 within the last 24 hours, indicating volatility but also a consistent downward trend.

The daily trading volume stands at 70,271,008, contributing to a volume-to-market cap ratio of 20.04%, suggesting healthy trading activity relative to its market capitalization. However, the moving averages indicate bearish momentum, with the 8 SMA at $0.0939 down 0.57% and the 55 SMA at $0.1035 down 9.83%, signaling potential resistance levels ahead.

Momentum indicators further confirm a weak outlook; the 1-hour RSI is at 44, while the 7-day RSI is at 40, both suggesting the asset is approaching oversold territory. Additionally, the 7-day price change is down 15.25%, and the 14-day change is down 22.49%, reinforcing a downward trajectory over the short to mid-term.

Considering the all-time high of $1.029 achieved in early January 2025, Sonic has significant room for recovery but is currently far from those levels. With the current price significantly lower and the indicators pointing to further potential declines, the immediate outlook appears bearish.

Given the significant price drop, resistance at the 55 SMA, and negative momentum across various time frames, the recommendation is to Sell. The current market conditions do not support a bullish reversal in the near term, and caution is advised for potential investors.