Sonic price weakens as bearish structure holds: Deeper correction ahead?

Klarna, the Swedish fintech company known for its Buy Now, Pay Later services, has announced the launch of a USD-pegged stablecoin on the Tempo blockchain, backed by Stripe. This move signifies Klarna's entry into the cryptocurrency market, aiming to enhance cross-border payment efficiency and reduce transaction costs for users.

BNB has recently paused its price movement after retreating from a peak, currently testing a previous resistance level that is now acting as support. This stabilization comes amidst a backdrop of fluctuating market conditions, with BNB's price showing signs of resilience despite recent volatility.

Naver Financial, a prominent South Korean internet company, is set to launch a stablecoin wallet service next month, marking a significant step in the cryptocurrency sector. This initiative aims to enhance digital currency transactions and provide users with a secure platform for managing stablecoins.

Metaplanet has secured $130 million through a credit facility to enhance its Bitcoin acquisitions, despite the ongoing volatility in the cryptocurrency market. This leveraged strategy aims to capitalize on current market dynamics and expand the company's holdings in Bitcoin.

Pi Network's price has stabilized above the $0.21 mark, indicating an accumulation phase that suggests increasing bullish pressure and the potential for higher resistance levels in the cryptocurrency market. This stability is crucial as it reflects investor confidence in the asset's future performance.

Aster price is currently trading at a critical support zone, indicating the potential formation of a bullish Elliott Wave structure. This development suggests that the cryptocurrency may be on the verge of a price reversal, as multiple technical indicators align to support this bullish outlook.

Cardano's price is at risk of falling to its 2024 lows, with technical indicators suggesting a bearish outlook as it continues a four-week downtrend. Recent data indicates that the cryptocurrency has faced significant challenges, including a notable loss of liquidity for some holders.

This week, cryptocurrency markets are set to experience significant volatility as $566 million in token unlocks are scheduled to enter circulation. This influx of tokens may exacerbate existing market pressures, particularly given the current weak demand and reduced liquidity in the sector.