Decentralized Finance

Safemoon Back In Rounds, Paves Way For The Investors To Jump In

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Highlights

    Safemoon price after a month-long downtrend rises up with a considerable margin in order to prevent a further plunge

    Despite a reversal, the price continues to trend within a narrow margin, showcasing fewer chances of a steep jump

Safemoon price after achieving the highest ever levels experienced a steep drop amid the mid-may crash. The crash wiped out half of the market cap and most of the tokens plunge more than 50%. Safemoon price was also among the crowd which drained notable from above $0.0000097 to $0.000002731. 

The price was following a descending channel and shedding gains every new day since the beginning of July 2021. Further when the price broke the lower levels, many assumed that the price could encounter much lower levels below $0.00000232. Yet the reverse trend flipped the bearish trend and raised the price above $0.0000027.

Also Read: SafeMoon Army Gears Up To Uplift the Price, Yet Needs To Be Programmed!

safemoon price (3)
www.digitalcoinprice.com

After undergoing a constant downtrend, the uptrend will be confirmed once the price sets up an upswing high above $0.00000295. Else a bearish trend could be fast approaching which could drag the price close to $0.00000200. However, a recovery also may be programmed if the price fails to clear the resistance. 

And hence such a strong move could push the Safemoon price to vital levels between $0.00000345 and $0.00000389 if the buyers jump in action in time. On the contrary, if the price fails to follow the uptrend, then it could retest the support levels around $0.00000190.

Also Read: Cardano Price Rejects The Lows, Has The Bull Market Began?

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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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