Sonic DEX volume rises 17% – But THIS signals likely trend reversal

• Whale netflows surged 1,170% in seven days, signaling aggressive accumulation close to $0.316 assist.
• DEX quantity rose 16.97% weekly whereas 96% of holders remained underwater, suggesting restricted promote stress.

Sonic [S] has hovered close to the $0.316 assist stage for days, forming a possible double backside setup, whereas community TVL consolidated above $2 billion. 

That stage has held regular since late April, regardless of broader market pullbacks. The present chart construction mirrored a consolidation part, not capitulation. 

A break above the downtrend resistance might affirm the reversal and entice sidelined capital. If momentum strengthens, the subsequent upside check could be at $0.409.

Momentum for bulls?

Over the previous seven days, DEX quantity for S jumped by 16.97%, reaching over $539.95 million. This rise in decentralized buying and selling exercise highlights rising person engagement, at the same time as DEX/CEX dominance was at simply 0.32%. 

The low DEX share suggests that the majority quantity nonetheless flows by centralized platforms. Nevertheless, rising DEX figures could sign customers in search of extra management amid unsure market circumstances. 

If this development continues, it might mark a behavioral shift that helps long-term worth development.

Supply: Buying and selling View

Good accumulation begins

Spot market knowledge confirmed $4.13 million in inflows versus $3.55 million in outflows on the seventeenth of June.

Whereas netflows remained impartial, current classes confirmed accumulation on dips, with outflows dominating throughout minor rallies. 

This conduct signaled investor warning, but it additionally mirrored confidence in S’s structural assist. The absence of main sell-offs close to the $0.316 flooring additional strengthened its validity as a key stage. 

Subsequently, the subdued spot outflows instructed positioning forward of a possible upward breakout.

Supply: Coinglass

Have whales lastly returned?

Massive holders elevated their publicity considerably, with a 1,170% netflow spike over the previous seven days. This abrupt rise signifies aggressive whale accumulation, probably in anticipation of a reversal from present lows. 

Traditionally, such actions precede sharp rallies—particularly when technical setups align with fundamentals. 

With Sonic nonetheless buying and selling under key resistance and whales stepping in aggressively, this accumulation part might mark the early levels of a development reversal.

Supply: IntoTheBlock

Suppressed sentiment units the stage

On-chain metrics confirmed that 96.61% of Sonic holders had been out of the cash at press time, with solely 3.27% holding a worthwhile place. This overwhelming imbalance implied pessimism throughout the market. 

Nevertheless, it additionally creates a positive setup—there’s restricted short-term profit-taking stress and excessive upside potential if resistance ranges break. 

Suppressed sentiment usually breeds surprising volatility, particularly when catalysts like whale accumulation and rising DEX quantity enter the equation.

Supply: IntoTheBlock

Can Sonic see a breakout rally?

Sonic confirmed a number of indicators of a possible bullish turnaround on the time of writing, with sturdy whale accumulation, rising DEX exercise, and a strong $2B TVL base. 

Worth motion has revered the $0.316 stage, forming a double backside construction. With 96% of holders nonetheless underwater, breakout potential stays excessive if resistance breaks. 

The convergence of technical and elementary power might set off a shift in market sentiment and ignite a sustained upside rally.