Altcoins

Safemoon Price Lagging Bullish Momentum, Yet a Notable Rally is imminent?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Dec 22, 2021

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Article Highlights
  • The Safemoon price is hovering around a narrow region from past a week and moreover, its showcasing no significant signs of a flip

  • The asset is more prone to dip towards the next support levels in order to attract the strong hands to quickly jump into the platforms

Most of the  crypto assets are undergoing huge variation in recent times. While some are plunging massively, some are trying to bounce back hard challenging the ongoing trend. Assets like Terra that formed a new ATH being distinct from the ongoing trend. Yet assets like Safemoon, appear to struggle to achieve a decent upside movement. 

Safemoon price after the gigantic rally a couple of months before just slipped out of everyone’s attention. And hence the price trend also remained restricted as no new hands entered the ring to uplift the price.

Also Read: Shiba INU Price Appears to be Ready to Break the Resistance Finally, How High Will It Rally?

Safemoon price dropped massively since the beginning of December and was also successful in recovering to some extent. The asset after flipping from the lows around $0.00000700 ranged high to eliminate the added zero. Interestingly, the asset has not shown any signs of either upward or downward movement since a couple of days,  probably due to the lack of interest. 

One possible reason may be that the investors might be looking for some great entry zone which may be located still lower than the current levels. And hence to gain the trader’s attention, the asset may slip down to the support levels around $0.00000700 yet again before the next leg up. 

Overall Safemoon price after the recent migration to new address, is swinging hard to sustain at the present levels. However, the asset is still primed to reach new highs, yet a small pull back is still possible.

Also Read: Terra(LUNA) Price Smashes highs Being UnImpacted from the Ongoing Tussle

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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