Price Analysis

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

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Highlights

    Safemoon price flips the bearish divergence and initiates an upswing since the early trading hours

    The validation for the bullish trend depends on surpassing certain levels, else a bear trap is much awaited for the asset

Safemoon price gained huge attention and adoption within a small time frame, and hence a decent recovery was looked at. After the asset dropped massively around $0.00000284, the price was expected to dip more, yet a huge bounce with an induced buying uplifted the price. 

Whether the current upswing is the beginning of an uptrend may be a little early to say, yet further dip is halted as of now. Moreover, the right time bounce at the support levels could signal the resurgence of buyers. As the trading volume has raised from $11miliion to $15 million since the previous trading day. 

Also Read: SAFEMOON surges 11%! Looks like #SafeMoonSqueeze is working

safemoon

The Safemoon price is on the verge to test its first resistance levels around $0.000003237. However, the next levels are pretty higher and an extra boost may propel the levels above $0.000004765. In the meantime, if the bears gear up and capitulate the market, the lower support levels become more important to sustain. 

The traders or especially the bulls need to take note that the previous week’s plunge was mainly due to squeezed demand. And hence, the upswing could be validated once the losses are recovered to a certain extent. Moreover, the first resistance level needs to be attained and sustained. 

Technical Specifications

  • The resistance levels are at $$0.000003237
  • The support levels are at $0.0.000002957
  • The indicators are currently neutral and may flip to a buy signal soon

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

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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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