Date: Tue, February 11, 2025 | 05:20 AM GMT
The cryptocurrency market has kicked off the week with a much-needed recovery. After weeks of corrections, major altcoins are bouncing back, bringing relief to investors. Bitcoin’s rising dominance, DeepSeek’s launch, and global tariff concerns had weighed heavily on prices earlier, but now, a shift in momentum is underway.
Sonic (S) and Helium (HNT) are two standout performers in this rebound. Sonic (S) has surged 11%, while HNT is up 16%, both reclaiming key support levels after experiencing sharp 30-day declines of over 35% and 24%, respectively.
Source: Coinmarketcap
Sonic (S)
Sonic (S)’s daily chart highlights an ascending resistance trendline and a horizontal resistance zone where the price has been consolidating for multiple years. The recent correction, which started after a rejection from the ascending resistance trendline at the $1.47 high in mid-December, led to a drop toward a key support zone at $0.18.
Sonic (S) Weekly Chart/Coinsprobe (Source: Tradingview)
However, as this zone has historically triggered strong rebounds, Sonic (S) quickly recovered and is currently trading near at $0.46.
The immediate resistance is the 100 MA, which acts as a major hurdle. If broken, it could signal a stronger recovery. If bulls push the price above the 100 MA, Sonic (S) could rally towards the $1.00 mark. The MACD indicator is currently showing early bullish signs, hinting at growing momentum.
Helium (HNT)
The weekly Helium (HNT) chart shows that the price has been trading within a year-long descending triangle pattern. The recent downtrend, which began in mid-December after a fakeout rejection from $10.15, pushed HNT to a low of $3.00 at a major support zone. However, buyers stepped in, driving the price back up to $4.03.
Helium (HNT) Weekly Chart/Coinsprobe (Source: Tradingview)
The immediate resistance is the 100 MA, which is the first major resistance to break. A successful move above this could confirm a bullish reversal. If HNT can gain strength above the 100 MA, the next resistance zone is around $6.00 at the upper resistance trendline.
The MACD indicator is slowly turning bullish, suggesting potential upside in the coming weeks.
Final Thoughts
Both Sonic (S) and Helium (HNT) are showing signs of a potential bullish reversal after bouncing from critical support levels. However, a confirmation will come if they break above their respective 100 MA resistances. Traders should keep a close watch on volume and momentum indicators in the coming days to gauge the strength of this recovery.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
