- SafeMoon price continues to compress, creating the basis for an extreme price expansion when resolved.
- Safe Earn took to the decentralized finance (DeFi) space with great fanfare in the first 72 hours after launch, creating the first double reflection token.
- FOMO remains absent from the cryptocurrency market, as SAFEMOON social volume has not budged on a smoothed basis.
SafeMoon price took the cryptocurrency by storm following its inception in March, with a run of over 19,000% in the early weeks. Since the massive rally and resulting crash, SAFEMOON has been trending sideways, suggesting it is forming an actionable bottom.
SAFEMOON adoption to benefit from the Safe Earn money project
Safe Earn is the first mover of double reflection tokens by acting as an earning platform. It rewards SafeMoon tokens to Safearn holders at a rate of 8.5%, and those holders are eligible to benefit from the current SafeMoon standard reflections of 5%. The result is 13.5% in rewards, greater profits and broader adoption of SAFEMOON in the cryptocurrency complex.
Instead of the standard 5% reflection given out by SafeMoon already, Safe Earn ups that number to 13.5% in rewards. It’s an extremely new way to nearly triple your earnings.
Safe Earn ran several giveaways to strengthen the launch, with one offering $10,000 USDT to anyone that could get SafeMoon to mention them publicly. It lead to an explosion on SafeMoon’s hashtags.
Safe Earn fills a gap in the decentralization space (DeFi) space. It is a unique opportunity for cryptocurrency investors seeking an alternative source of return in SAFEMOON, particularly valuable when the market has been trending sideways.
SafeMoon has endorsed Safe Earn.
SafeMoon price begs for FOMO as it stumbles near the lows
When there is the phenomenon of fear of missing out (FOMO) in the financial markets, investors seek quick, outsized returns, and social media can accelerate the craze. When SAFEMOON first came to the market in March, there was limited interest in social media. Still, it soon jumped in April, driving SafeMoon price higher and rewarding early adopters with huge returns.
Social media volume, tracked by Santiment, continued at higher levels after the crash in April and into the May highs. Still, it has since fallen into a low range that has remained consistent since early June, despite the SAFEMOON bounces.
The Santiment Social Volume metric tracks the number of mentions of SAFEMOON on 1000+ crypto social media channels, including Telegram groups, crypto subreddits, discord groups and private traders chats.
SAFEMOON Social Volume – Santiment
A sustainable rally will not emerge without the benefit of social media. Still, the renewal of a bid in the cryptocurrency market over the last eight days may convince investors to explore the frontier digital tokens, creating a new rush.
SafeMoon price coils for an explosive move
Since the May correction, SafeMoon price has shaped a descending triangle pattern that is nearing the apex. The downward trajectory enforced by the triangle pattern and the 20-day simple moving average (SMA) has left SAFEMoon near a resolution.
The tightening of SafeMoon price has contracted the Bollinger Bands and, as a result, pushed the Bollinger Band Width (BBW) to the lowest level since April, creating a unique opportunity to target an outsized move.
The measured move of the descending triangle pattern is 57%, projecting a downside price target of $0.00000111. To activate the pattern, SafeMoon price needs to log a daily close below the May 19 low of $0.00000261, something the altcoin failed to achieve on June 22, July 19, July 20 and July 26. Today, SAFEMOON did briefly trade below the level.
The upside measured move price target is $0.00000504. An official breakout is recorded when SafeMoon price can overcome the 20-day SMA at $0.00000289, the resistance of the triangle’s upper trend line at $0.00000318 and the 50-day SMA at $0.00000340.
Regarding the timing of the 57% move, it appears imminent as the BBW width is near the tightest reading since the pattern began developing, and SafeMoon price is closing in on the apex of the triangle formation.
SAFEMOON/USD daily chart
If the pattern resolves to the upside, use the SAFEMOON triangle’s horizontal support line as a stop in the case of a throwback. Alternatively, use the triangle’s upper trend line as a stop for any pullbacks after breaking down.
For a rookie cryptocurrency, adoption is critical, and the Safe Earn project provides a source of endorsement by rewarding Safearn holders with SAFEMOON tokens. As the user base grows, so will the social media traffic and perhaps the basis for a renewed rally as SafeMoon price is in the sweet spot for a substantial move.
SafeMoon prices hints at bullish outlook with a 30% potential
- 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.
In some cases, this uptrend might extend up to $0.00000189.
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.
SafeMoon price puts 32% crash on radar as bulls prepare for damage control
- 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.
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.
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.
SafeMoon price is getting squeezed as bears take control
- 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
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.
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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