Sonic Price May Experience Technical Reversal: RSI Bullish Divergence Emerges, $0.03 Becomes a Key Support Level

March 11 News: Sonic’s recent price movement shows an important technical signal. Market data indicates that the token has formed clear support around $0.03, while the Relative Strength Index (RSI) shows a bullish divergence, suggesting that the downward momentum may be weakening after several weeks of decline. If this key level remains stable, Sonic’s price could attempt to recover toward the $0.04 resistance zone.

From a technical perspective, bullish divergence typically appears at the end of a trend. When prices keep making lower lows but RSI gradually rises to form higher lows, it often indicates that selling pressure is waning and some funds are starting to accumulate at lower levels. Currently, Sonic is near the low of its value area, a level that has historically attracted buying interest, making it a key support in the short term.

Meanwhile, the $0.03 level is not only a horizontal support but also coincides with the 0.618 Fibonacci retracement level. In technical analysis, the 0.618 retracement is considered a critical turning point. When it overlaps with the low of the value area and RSI momentum signals, it often creates a strong technical resonance zone, increasing the likelihood of a price rebound.

On the fundamental side, recent developments have occurred within the Sonic ecosystem. Sonic Labs has launched the stablecoin USSD, which is pegged to the US dollar and backed by tokenized U.S. Treasury assets, providing a new stable liquidity source for the Sonic blockchain. Meanwhile, under CEO Michael Demeter’s leadership, the team is advancing a new Layer-1 development roadmap aimed at strengthening the network’s long-term value and use cases.

In the short term, the market structure suggests that if support at $0.03 holds, Sonic’s price could gradually rise toward the $0.04 area. Breaking through this level would form the first higher high after the recent decline, often seen as an important signal of trend reversal.

However, the technical pattern still requires confirmation from subsequent price action. If the price falls below $0.03, the bullish divergence may become invalid, and bearish momentum could dominate the market. Therefore, the performance of Sonic around this key support in the coming days will be an important reference for market direction.