Sonic (S) is exhibiting signs of a bullish reversal, defending a crucial support level near $0.2219. Currently trading at approximately $0.2518, the token is forming a falling wedge pattern on the daily chart, indicating a potential weakening of bearish momentum. Should the bulls maintain this support, the next target could be the upper resistance trendline at $0.3521, with the 200-day moving average at $0.3943 as a subsequent milestone.