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.
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.