Fantom, currently Sonic (S), managed to break above its main downtrend resistance which signaled an exceptionally bullish price action.
The price surpassed its descending trendline while entering the resistance-to-support zone which spanned from $0.55 up to $0.58 and thus validated the breakout.
The sustained holding of Fantom above this resistance area would likely push its price to target $0.90 and beyond possibly reaching $1 during upcoming months.
Buyers might find the best price point to enter at the $0.55 to $0.58 range if the market maintains its support levels.
If Fantom price fails to hold above the zone, it could probably cancel the bullish outlook thus triggering a price correction moving toward $0.49.
The definite intersection of the trendline that could be followed by an bullish retesting pattern suggested potential surge.
An unsuccessful price attempt below $0.55 could allow bears to resume their control thus driving Fantom downward.
The support zone emerged as an essential factor in this assessment because it set the conditions for Fantom’s breakout success or failure.
The Total Value Locked in DeFi reached $1.924 billion for Fantom which was a combination of borrows, double counting, liquid staking and vested Fantom, now S token, holdings.
During February 2025 the TVL in DeFi hit its lowest value of $1.5 Billion in February but rose back up to $1.924 billion.
Throughout the period the S token value (blue line) achieved a 210% growth by rising from $0.2 to $0.62.
The stablecoins market capitalization stood at $387.71 Million while fees total $18,705 and app revenue amounts to $198,951 over a 24-hour period.
The daily DEXs volume reached $131.085 million while perps volume amounted to $197.085 million leading to the inflow of $488,194.
The Bridged TVL stood at $1.422 billion and the market capitalization of Fantom amounted to $1.958 billion.
The blockchain has gained strong ecosystem adoption making the network more valuable and attractive to users.
The thriving network status of Sonic’s DeFi statistics showed that a growing interest among investors will likely continue to boost its price.
Analysis on deBridge showed the increasing cross-chain transactions involving Sonic, formerly Fantom, from the total value transfers.
The significant flow of funds to Fantom occurred through extensive transfers coming from Solana, Arbitrum and Ethereum which indicated substantial value transfers between BNB Chain and Avalanche.
The largest blockchain transfers on deBridge were from Solana to Fantom (Sonic) then came Arbitrum to Sonic and then Ethereum to Sonic but Fantom operations to other chains remained low which indicated accumulation activity.
Moreover Solana and Arbitrum exchanged large volumes between each other although Sonic gained prominence as an inflow destination.
Sonic’s blockchain received increased cross-chain transaction volume as the adoption and interoperability improved due to its scalability features.
The devaluation of Sonic’s price to $1 could continue if inflow activity slowed down as the market signals could have indicated that the project lost its trajectory of growth.
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