Sonic Token Drops After Executive Departures
- Executive Departures Impact: The resignation of Andre Cronje, Michael Kong, and David Richardson from Sonic's board has led to a more than 5% drop in the S token, which is currently trading around $0.03, approximately 97% below its January 2025 all-time high.
- Increased Market Pressure: Launched as the successor to Fantom, Sonic aimed to attract developers with fast settlement and DeFi incentives, yet the market response has been negative, with DeFi liquidity significantly thinning and current TVL at about $20 million, far below early phase levels.
- New Leadership Team Takes Over: Matt Visser has been appointed CEO and Kosta Kourkoumelis COO, taking charge of the Sonic project; however, the leadership change may affect market confidence, especially given the current low token price and sentiment.
- Uncertainty for Project's Future: While Sonic still has an active chain and live DeFi protocols, the S token remains close to its all-time low after a roughly 90% annual decline, raising questions about whether the new executive structure can turn the tide.
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Technical Analysis for SONIC
Technical Sentiment Analysis for Sonic SVM (SONIC). As of , Sonic SVM (SONIC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SONIC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SONIC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sonic SVM (SONIC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0212 | 0.0232 | 0.025 | 0.027 | 0.0288 | 0.0308 | 0.0326 |
| Fibonacci | 0.0232 | 0.0247 | 0.0256 | 0.027 | 0.0285 | 0.0294 | 0.0308 |
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