Briefly –
- SafeMoon indicates extended sell-offs after dropping beneath $0.00000273, the range low.
- The asset has to swing high over $0.00000295 to confirm the upsurges.
- A break beneath $0.00000216, 20 July lows, will overturn the potential bullishness.
At the moment, SafeMoon has its price attempting to move to the range low, planning to reclaim the zone. With success, market bulls will have to push the coin’s value higher to activate upside movements.
The asset will have to defeat various obstacles to register promising price moves. SAFEMOON will likely face challenges due to its lower market value.
SafeMoon on an Uphill Struggle
SafeMoon has experienced downtrends since its high swings in May. Although the coin battled various times to ensure upward price changes, the market weakness resulted in lower highs. The recent crypto sell-off intensified bear activities, sending the altcoin to the range low around $0.00000273.
Although the SafeMoon network denoted bearishness, a sudden recovery over the level mentioned earlier will extinguish pain or alleviate it.
Meanwhile, if buyers manage to control the SafeMoon market, they would propel SafeMoon to form a conclusive 12-Hr candle over the resistance level at $0.00000295. The alternative coin will create a higher high, indicating bullishness for profits.
With such positivity, buyers will have the chance to catapult this coin to crucial levels such as $0.00000338 and $0.00000374. That would translate to around 34% to 48% from the coin’s prevailing position at $0.000000252.
Although the bullish forecasts might seem logical, SafeMoon has to prepare for headwinds with failure to recover over $0.00000273. Moreover, the coin will have to form high higher over $0.00000295 to give its investors staking hopes.
In that scenario, increased selling pressure might send SafeMoon to create a 12-hir candle beneath $0.000000216, 20 July swing low. That would annul the bullish case.
If the asset sustains bearishness, SafeMoon might see its price retesting the support at $0.00000198.
At the moment, SAFEMOON has chances to endure continuous sell-off after the asset failed to maintain over $0.00000273. The altcoin will require a 14% uptick to ensure the upside price moves.
You can comment or share this content with your fellow cryptocurrency fans.
