Sonic (S) is poised at a critical point on its chart, as the price approaches the $0.395 support level. This key zone served as a launching pad in early April but has recently witnessed a decline, currently trading at $0.4547 after falling over 3%. Crypto expert Ali highlighted this level, noting that if buyers return to this area, a bounce could occur. However, if the support weakens, things may take a turn for the worse. The market reacted strongly to this zone before, but its continued effectiveness is uncertain. 2023 has seen sustained downtrend in Sonic’s price. The 12-hour chart reflects a steady bearish structure after reaching a peak near $0.62 in May. It formed a double-top pattern, followed by a decline through multiple support zones including the range between $0.4850 to $0.5000. This level was once a point of support but has become a resistance zone following a recent breakdown. 12-hour chart shows that Sonic’s price structure remains bearish with lower highs and lower lows, indicating weak buyer presence. The market will now be watching if the price rebounds from $0.395, which would signal potential upside momentum and shift towards higher resistance zones for Sonic price.