Sonic (S) token price skyrocketed more than 11% in the past 24 hours, but failed to break the resistance at the $1 price level.

TL;DR Sonic has seen a 15.83% increase in the last 24 hours, reaching a price of $0.8938, showcasing strong growth. Sonic's market capitalization has surpassed $2.57 billion, reflecting solid growth in the last week (+63.20%), highlighting its strength in the crypto market.

Sonic [S] has experienced remarkable upward momentum recently, surging 69.89% over the past week. From a low of $0.39 just two weeks ago, the altcoin has gained significant traction, now trading at $0.98.

Sonic (S), previously known as Fantom (FTM), is leading the crypto market with a significant surge over the daily and weekly timeframes. Analysts noted that the post-rebrand bullish momentum has sent the token to test a key resistance level, which could propel the price to the $1 barrier.

Sonic saw sustained upward momentum, hiking by 69.89% in seven days, although an analyst anticipates a correction.

The crypto market has been in the green for a long time, and as a result of the rising bullishness, altcoins are reaching their new highest points. Bitcoin's attempt at breaking out of consolidation is seemingly acting as a catalyst for altcoins.

Sonic (S) is currently experiencing strong bullish momentum, with its price up nearly 15% in the last 24 hours and 53% over the past seven days. Its market cap now stands at $2.6 billion, reflecting growing investor interest and heightened trading activity.

The price of Sonic (S), formerly Fantom (FTM), has risen 97% over the past two weeks, making it the largest gainer among the top 100 cryptocurrencies by market cap. This bullish surge has caught investors and traders by surprise, and many are now questioning how sustainable this bull run is.

Sonic's price surge is driven by technical patterns and rising sentiment despite mixed on-chain signals.

Crypto prices on Tuesday have continued stirring up market uncertainty, mainly illustrating an extended sluggish performance. Bitcoin (BTC) price continues to hover around the $96K level on Feb 18, although Ethereum (ETH) gained slightly by 2%.

Some altcoins are seeing strong bullish movement today, with Story Protocol (IP), Sonic (S), and Mochi (MOCHI) leading the trend. Story Protocol's recent mainnet launch has driven significant attention, pushing its market cap to $453 million.

Altcoins have seen a mixed performance this past week, with some making significant gains while others remain in correction mode. Telcoin (TEL) led the rally with an 88% surge, pushing its market cap past $1 billion, while Sonic (S) jumped nearly 40% despite ongoing struggles since its rebranding.

Sonic, formerly known as Fantom, was the second-best performing top-100 crypto coin this wee, as it jumped by 25%. Sonic (S) soared to a weekly high of $0.

The crypto market has added $77 billion in value over the past day. This signals a potential shift toward bullish momentum as investors increase their trading activity.

Sonic [S] (FTM) has been showing signs of recovery, but it's currently stuck at a crucial resistance point that could determine its future price movement. For Sonic to push toward $1, it must break above the descending trendline, currently located around $0.4558.

FTM is on the verge of breaking a descending trendline but the activities on the network are wanting.

Sonic (S) is trading 2% up in the past day as it total value lock (TVL) hit a new all-time high at $350 million.

Sonic (S) has recovered, surging by 31% after hitting an all-time low just three days ago. It trades at $0.46, surging almost 10% in the past 24 hours.

The newly rebranded layer-1 blockchain Sonic (S) is being called the “golden standard” of layer-2s (L2s) by Andre Cronje, the project's co-founder. Cronje claims on the social media platform X that Sonic, formerly known as Fantom, is the “only actual decentralized stage 3 L2.

The crypto market's recovery has not benefited all altcoins, as some continue to face sharp declines. While Bitcoin holds steady at $102,200, several altcoins remain in a downtrend, struggling to regain momentum.

The former Fantom blockchain rebrands as Sonic, achieving $250M Total Value Locked within days of launch. The platform claims to be the fastest EVM chain with groundbreaking transaction speeds.

The crypto market managed to recover Monday's sharp losses, but the volatility left a lasting impact on several altcoins. Despite the broader market rebound, some tokens failed to recover fully, with the drawdown leaving them vulnerable.