Major Levels – Is Sonic Ready to Pump?

After reaching the daily resistance level ($0.7818), price faced strong rejection. The anchored VWAP, acting as dynamic resistance just below the daily level, provided additional confluence for a low-risk short opportunity.

Additionally, a key high at $0.7891 further reinforced this resistance zone. Following the rejection, price sharply declined -13%, retracing back into the previous trading range.

Support Confluence

Price is now approaching a well-defined support zone:

Bullish Order Block: $0.6816
Key Level Near Order Block: $0.6803
Golden Pocket (Fib 0.618 - 0.65): 0.618 at $0.6793 & 0.65 at $0.6739
Monthly Open: $0.6732
Point of Control (POC): $0.6732 (aligning with Monthly Open)
Daily 21 EMA/SMA: 21 EMA at $0.6835 & 21 SMA at $0.6790
Fib Speed Fan 0.7 (from $0.615 to $0.7818): Providing additional support in this zone

Long Trade Setup

Entry Zone: $0.6816 – $0.6732
Stop Loss: Below the Monthly Open ($0.6732)
Take Profit Zone: $0.7111 – $0.7201
Risk-to-Reward (R:R): 3:1 R:R setup, offering a high-probability trade

Take Profit Targets & Resistance Zones

Previous Swing Low: $0.7111 (untested)
Value Area Low (VAL): $0.7152
Anchored VWAP (from $0.615 low): $0.7137
Fib Retracement 0.382 (from $0.7818 high to current low): $0.7201

Trade closed: stop reached

Stopped out. Next long opportunity from the 0.786 fib retracement at $0.6512.

SiDec

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SiDec

Mastering Fibonacci for precision trading

🔹 Sharing high-probability trade setups 🔹

⚡ Unlock the power of technical analysis! ⚡