Price Analysis

Safemoon Price Flips The Bears, Could Resume Bull Run Soon!!

Highlights

    Safemoon price bounces key support levels, indicating a possible recovery very soon

    The bulls are required to push the price above the key support levels in order to set up higher levels

Safemoon price initiated the monthly trade on a bullish note but failed to keep up the uptrend. And hence continued dipping towards the strong support levels around $0.00000297. However, the prie regained enough momentum and withdrew from the further plunge. The price currently bounces from the crucial levels and anticipated to surge high.

The price recovered quickly from the previous sell-offs and hence a similar price movement could be on the way. The uptrend may lead the price above the current levels around $0.0000033, recording another 30% upswing.

Also Read: Safemoon Price All Set For A Major Upswing, Is It Poised To Surge 30%

The price managed the trembled situation quickly and rose above $0.000003 levels. The healthy consolidation was initiated aftermath of the mid-may crash. And hence the range was restricted below $0.00000450. Yet a healthy accumulation phase may result in a massive leg up which could rally the price to its initial levels. 

safemoonchart

Currently, the need of the hour is to intensify the buying pressure so that the price gets enough boost to propel high. And hence the Safemoon bulls are required to jump in action to hold the support levels strongly and visit the upper resistance levels soon.

Technical Specifications

  • The current resistance levels are around $0.000003676. However, after flipping these levels, the price may experience a slight pullback close to $0.0000033. Further, the bull run could resume towards the nest resistance levels above $0.0000045.
  • The support levels are around $0.00000295, which have been rejected a couple of times. And hence if failed to stand at these levels, the further plunge may lead the price towards the levels it trended before the start of the bull run
  • Indicators for safemoon price are swinging in between neutral and buy.
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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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