Sonic (S) is on a bullish streak, with its price surging by nearly 15% in the past 24 hours and 53% over the last seven days. The market cap has reached $2.6 billion, indicating a rise in investor interest and trading activity.

Technical analysis reveals that Sonic's ADX is standing at 51.6, validating the strength of the uptrend. The RSI of 78.4 suggests strong buying pressure, although caution is advised as overbought conditions may lead to temporary pullbacks. Sonic's next potential resistance levels are predicted to be at $0.849 and possibly $1.06.

Sonic's ADX has witnessed a significant surge, currently at 51.6 from 34 just three days ago and 19.8 eight days ago. This uptrend in ADX signifies a growing market momentum, indicating heightened buying interest and increased market activity.

Meanwhile, Sonic's RSI has climbed to 78.4, indicating a continued upward momentum. Although overbought, the elevated RSI suggests potential price pullback or consolidation in the short term as traders secure profits.

With Sonic's EMA lines forming two golden crosses, indicating bullish momentum, the possibility of Sonic testing the resistance levels at $0.849 and $1.06 is gaining traction. However, in case of a trend reversal, Sonic faces support levels at $0.65 and $0.58 before a potential deeper decline.

As Sonic rides this bullish wave, traders are advised to stay vigilant for any signs of market shifts or corrections to navigate the ongoing price movements successfully.