Sonic (S) is currently priced at $0.085211, reflecting a 24-hour decline of 5.17%. The daily price range has been relatively tight, with a high of $0.091292 and a low of $0.083844, indicating potential consolidation or indecision among traders.

Trading volume stands at approximately 30.41 million, representing a market cap contribution of 9.43%. The hourly moving averages suggest a bearish trend, with the 8 SMA showing a decline of 0.65% and the 21 SMA down 2.72%, indicating a lack of upward momentum in the short term.

The 1-hour RSI is at a critical level of 26, indicating oversold conditions and potential for a short-term rebound. In contrast, the 7-day RSI at 47 suggests that the asset is nearing a neutral position, but still lacks strong bullish momentum.

Over the past 7 days, Sonic has decreased by 3.79%, while the 14-day price change shows a more optimistic increase of 15.15%. The 30-day price change is also positive at 6.35%, indicating potential support at this level as traders assess longer-term trends.

Despite the current price being significantly lower than its all-time high of $1.029 reached in early 2025, recent price movements show signs of a potential bottoming phase. However, the overall market sentiment remains bearish in the short term, supported by downward pressure on moving averages and low RSI readings.

Given the current oversold conditions and potential for a rebound, a Buy rating is warranted for short-term traders looking to capitalize on price corrections. Long-term investors may consider holding, as the fundamental outlook remains uncertain until a clearer trend emerges.