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SafeMoon Price Prediction: SAFEMOON to catapult 26%

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  • SafeMoon price has retraced 11% after a rejection from a resistance level at $0.00000338.
  • A retest of the range low at $0.00000257 seems plausible before a 26% upswing emerges.
  • If SAFEMOON slices through the range low and fails to reclaim it, the bullish thesis will face invalidation.

SafeMoon price has seen two attempts over the past week to climb past a critical resistance barrier. The failure of the most recent try has led to a downswing to a stable support barrier. SAFEMOON could either bounce here and head higher or slice through it to retest the range low.

SafeMoon price eyes higher high

SafeMoon price tested the range low on June 22 after a 30% crash. Since then, SAFEMOON has tried to slice through the resistance level at $0.00000338 twice but failed.

The rejection on June 30 has led to an 11% sell-off, pushing SafeMoon price to a demand barrier at $0.00000295.

If the buyers come to the rescue, investors can expect the resulting bullish momentum to shatter the immediate resistance level at $0.000000338 and tag $0.00000374, a 26% upswing.

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However, in case of increased selling pressure at the said support, this might lead to a further decline that causes SAFEMOON to retest the range low at $0.00000257. This move does not invalidate the optimism around the altcoin or the intended target at $0.00000374 as long as a quick reversal occurs.

SAFEMOON/USDT 4-hour chart

SAFEMOON/USDT 4-hour chart

However, if the sellers band together to shatter the range low at $0.00000257, things will start to go awry for SafeMoon price. If the bulls do not act quickly and recover SAFEMOON price, it will invalidate the potential 26% upswing narrative explained above.

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In such a case, SafeMoon price might crash 23% to tag the support level at $0.00000198.

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SafeMoon prices hints at bullish outlook with a 30% potential

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  • SafeMoon price is contemplating a rally after a slow downtrend for nearly two weeks. 
  • The bullish divergence between SAFEMOON price and the RSI hints at a 30% advance.
  • A breakdown of the $0.00000124 support floor will invalidate the bullish thesis.

SafeMoon price experienced a massive downswing over the past month and has finally revealed an optimistic outlook. This development could see SAFEMOON rally and set up a temporary swing high. In a bullish case, this initial updraft could serve as the base for a new uptrend, which could establish a firm yet bullish directional bias.

SafeMoon price aims for a minor upswing

SafeMoon price dropped a whopping 60% over the past 24 days, while observers have noted a massive increase in selling pressure. The downswing appears to have reduced its speed over the past 12 days and indicates that an uptrend is likely.

This optimism stems from the fact that SafeMoon price has set up lower lows while the Relative Strength Index (RSI) has created higher lows, forming a bullish divergence. Such a technical formation typically tends to resolve to the upside.

Therefore, investors can expect SAFEMOON to climb going forward and encounter the immediate resistance level at $0.00000153. Shattering this barrier will propel the altcoin to $0.00000182, constituting a 30% climb.

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In some cases, this uptrend might extend up to $0.00000189.

SAFEMOON/USDT 1-day chart

SAFEMOON/USDT 1-day chart

While the technicals point to a positive outlook, SafeMoon price needs to hold above the $0.00000124 support floor. A breakdown below the said barrier to create a new lower low will invalidate the bullish thesis.

Such a move will likely trigger a 25% downswing to the subsequent demand barrier at $0.00000094.

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SafeMoon price puts 32% crash on radar as bulls prepare for damage control

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  • SafeMoon price prepares for a 32% plunge after losing a crucial foothold.
  • The altcoin could be supported by the demand zone that extends from $0.00000135 to $0.00000146.
  • SAFEMOON bulls would need to aim for $0.00000186 to be out of danger.

SafeMoon price has slid below a crucial support level that could indicate that a steep decline is on the horizon. SAFEMOON could be heading for a 32% drop as the buyers continue to retreat, leaving the altcoin to slide lower.

SafeMoon bulls prepare to cut losses

SafeMoon price has formed a symmetrical triangle pattern on the 4-hour chart, which suggested that there was an equilibrium between buyers and sellers. 

However, the technical pattern that indicates indecision has broken out to favor the bears, as SAFEMOON slid below the lower boundary of the triangle at $0.00000166. 

The downside trend line of the governing chart pattern acted as support for SafeMoon price since September 14. The altcoin falling below the line of defense has provided investors a hint as to where SAFEMOON is headed next.

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The prevailing technical pattern suggests that SafeMoon price is at risk of a 32% fall, targeting $0.00000112. Before SAFEMOON sellers attempt to reach the pessimistic target, it has a few lines of defense that could save the altcoin from the bearish outlook.

SafeMoon price would discover the first area of support at the 23.6% Fibonacci retracement level at $0.00000161. Should the altcoin face further selling pressure, SAFEMOON would find an additional foothold at the demand zone that extends from $0.00000135 to $0.00000146. 

If the bears continue to take control, SafeMoon price would eventually witness the bearish thesis emerge, and SAFEMOON may tag the downside target given by the technical pattern at $0.00000116, should the 32% drop materialize.

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SAFEMOON crash

SAFEMOON/USDT 4-hour chart

The first line of resistance appears to be at the lower boundary of the triangle at $0.00000166. Should the bulls flip this level into support, the following target for the buyers is at the 50 four-hour Simple Moving Average (SMA) at $0.00000178. 

For the SAFEMOON bulls to reverse the period of underperformance, the buyers should aim to slice above the upper boundary of the symmetrical triangle at $0.00000187, which could take SafeMoon price out of the woods in the near term. 

The following hurdle for SafeMoon price would emerge at the 100 four-hour SMA at $0.00000194, then at the 38.2% Fibonacci retracement level at $0.00000197.

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SafeMoon price is getting squeezed as bears take control

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  • SafeMoon price sellers took control in the last week of August and have been defending the descent since.
  • On the downside, SafeMoon price action is treading water, and $0.00000150 is under pressure.
  • A break lower could spell more the comeback of negative prices.

SafeMoon (SAFEMOON) is under siege by the bears. For the fourth consecutive week in a row, price action is getting lower highs. Sellers seem to be in control with respect to the red descending trend line. Buyers are standing on the sideline and are waiting for a turn in momentum.

SafeMoon price could see further decimation in the coming month

SafeMoon buyers still in the price action did not have much fun thus far on their positions. Since the last week of August, the highs have been trading down. Lower highs are the signature reflection of the bears being in control. Not only are sellers defending the red descending trend line. But to make matters worse, the 10-day Simple Moving Average (SMA) has been broken to the downside and is now putting a cap on the further upside in SAFEMOON. 

On the downside, price action is getting squeezed against $0.00000150. Although price action went even lower in previous weeks, the body of the candles has been holding above $0.00000150 for now. So the dips below that level are being bought for now. But as already pointed out, buyers see more and more dark clouds above possible returns. This is shown as well in the volume that has been continuously decreasing since July.

SAFEMOON/USD weekly chart

SAFEMOON/USD weekly chart

With the bears pushing price action to the downside, a test towards its all-time low could arise in SAFEMOON. A retest of the low in the second week of its existence looks plausible, near $0.00000067. With prices already very much decimated, buyers look to have put SAFEMOON aside for now. 

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A rather big paradox is that with price action going down, sellers will not find a party that is willing to sell around these prices. This way, sellers can not book any profit, and price action will inevitably ramp up again because of the skew in bid/ask. That move might come quite quickly and rapidly and push SAFEMOON to another retest of the red descending trend line.

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