SafeMoon price eyes a higher high SafeMoon price is currently hovering above a recently flipped resistance level. A retest of this barrier followed by a rally appears to be likely.
The likely course of action for SafeMoon price is a retest of $0.00000295 followed by a resurgence of buyers that pushes it to the immediate supply barrier at $0.00000338. If the bulls shatter this area, the logical target would be $0.00000374, roughly a 22% hike from the current position – $0.00000304.
SafeMoon price sliced through the resistance barrier at $0.00000295 and flipped it into a support level. This 12% hike was triggered after SAFEMOON formed an equal low at $0.00000272 on July 9.
A close above this level would be a crucial development since it indicates the formation of a higher high after nearly 21 days of a downswing. Such a move might trigger FOMO and catapult SAFEMOON to $0.00000412.
Clearing these levels would open the path for bulls to push the altcoin to retest the range high at $0.00000470.
SAFEMOON/USDT 4-hour chart
While the bullish narrative makes sense, investors should watch for a quick reversal that flips the $0.00000295 support into a resistance level. If this were to happen, market participants could expect a 7% downswing to $0.00000272.
However, if SafeMoon price breaches the range low at $0.00000257, it will invalidate the optimistic outlook, which might trigger a 22% crash to $0.00000198.
News Highlights Business
- SafeMoon’s price begins its climb as bulls re-enter crypto markets
- Check all news and articles from the Business news updates.
Disclaimer: If you need to update/edit/remove this news or article then please contact our support team.
This news is republished from another source. You can check the original article here.
Be the first to comment