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SonicLabs Leads Mindshare Surge as HYPE Gains and RAY Retreats: Key Trends

Jonathan Carls by Jonathan Carls
April 18, 2025
in Binance Feed, Market
Reading Time: 4 mins read
SonicLabs Leads Mindshare Surge as HYPE Gains and RAY Retreats Key Trends
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  • Sonic’s sideways range reflects uncertainty as volume drops over 19% in 24 hours.
  • Raydium’s 6% decline and 61% volume drop confirm short-term bearish momentum.
  • Hyperliquid’s uptrend builds with rising volume, but low circulating supply adds risk.

SonicLabs has emerged as the most talked-about token on Messari Mindshare in the past 24 hours. The sudden surge in visibility follows a flurry of price actions across Sonic (S), Raydium (RAY), and Hyperliquid (HYPE). Each of these tokens experienced unique trend behaviors, with Sonic displaying low-volatility sideways movement, HYPE establishing an uptrend, and RAY confirming a short-term downtrend. 

These shifts have drawn significant attention from traders and market observers, especially as Sonic rebrands from its Fantom (FTM) roots and attempts to regain momentum. Despite differing trajectories, all three assets are now under close watch due to their evolving technical structures and positioning in the broader market.

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Sonic Forms Sideways Channel as Volume Drops 

Sonic (S) hovered around $0.4718 after a modest 0.27% gain in the last 24 hours. The price bounced between short-lived rallies and brief pullbacks, reflecting a tight intraday range. Although the token briefly crossed $0.480, it quickly faced resistance and dipped below $0.475.

Support held strong near $0.463, where buyers stepped in to absorb downward pressure. Additional support zones formed at $0.468 and $0.470, offering temporary stability. However, resistance at $0.480 and $0.475 continues to challenge any upside momentum. 

Source: CoinMarketCap

The narrow price action reflects hesitation amid falling volume, which dropped over 19%. Consequently, breakout attempts could remain suppressed unless fresh buying interest emerges.

Raydium Slips as Sellers Dominate and Trading Activity Cools Down

Raydium (RAY) posted a sharp 6.06% decline over the past day, closing near $2.19. The token started near $2.34 but followed a downward trajectory marked by lower highs and lows. Seller dominance remained clear, and buying activity weakened.

Support emerged at $2.17, where the price briefly stabilized. Minor support was noted at $2.20 and $2.23, though recovery attempts remained limited. 

Source: CoinMarketCap

On the resistance front, the $2.30–$2.32 zone posed a major challenge. Sellers also defended $2.27 and $2.24 during failed rebounds. Besides the bearish price action, a 61% drop in volume confirmed waning interest, placing additional weight on the downtrend.

Hyperliquid Rebounds as Bullish Structure Builds 

Hyperliquid (HYPE) traded at $16.91, gaining over 3.6% with strong bullish momentum throughout the day. The price followed a pattern of higher highs and higher lows, confirming a short-term uptrend. It peaked near $17.25 before a minor pullback.

Source: CoinMarketCap

Support held at $16.31, with buyers defending additional zones at $16.50 and $16.75. Resistance appeared at $17.00, $16.95, and the daily high of $17.25. Notably, the 24-hour volume increased by 16.38%, signaling renewed interest. However, with only 33.4% of the total supply circulating, further unlocks could influence price dynamics in the near term.

Tags: Market News

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