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SafeMoon

Safemoon price under pressure as profit-taking persists

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  • Safemoon price exploded by almost 300% at the end of October.
  • Safemoon price has been on a downward slope since then, under pressure by quite some profit-taking.
  • Price action in Safemoon is nearing two essential support elements that could start the next bullish phase.

Safemoon (SAFEMOON) price saw favor from bulls in October, but sentiment shifted a little bit in November, and now the uptrend starts to look tired,  with the October rally already pared back half. After Safemoon price hit $0.00000700, bears  pushed Safemoon price down towards $0.00000380, where it is currently trading, near two technical elements that might see bulls re-emerge on the scene and kickstart the next phase in the uptrend. 

Safemoon price sees sell-side volume fading, bulls ready to take over

Safemoon price has been under quite some pressure in November after hitting new highs in June. Since then, Safemoon price has been stuck in a downward trajectory, marked by quite a lot of volume on the sell-side. After hitting $0.00000700, the price is now averaging $0.00000398.

The fact that bulls are not really present is because there are no good entry levels at hand in Safemoon. With the red descending trend line very well respected, bulls do not want to burn their hands on entering preemptively. However, Safemoon price holds a solid entry point at $0.00000352 with a historical triple top and the 30-day Simple Moving Average (SMA) coming in below.  

SAFEMOON/USD daily chart

SAFEMOON/USD daily chart

Safemoon price is getting squeezed further with lower highs and a flat bottom at $0.00000380. Expect the squeeze to continue and for bears to cash in on the break. This would be a golden opportunity for bulls to go long again, and Safemoon price should see volume shifting from the sell-side to the buy-side. 

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If $0.00000352 and the 30-day SMA do not hold, expect bears to sit on their hands and to not offer buyers any opportunity to get in. This would pave the way for a nose dive towards the green ascending trend line at the bottom, around $0.00000150, where bulls should be interested in picking up Safemoon at a very attractive discount.

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SafeMoon V2 countdown begins with prices ready to explode

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  • John Karony, SafeMoon CEO shared an update on new developments in the project, announcing the transition to a new team. 
  • Thomas Smith, SafeMoon’s Chief Blockchain Officer has been replaced with a new team as part of the company’s restructure and preparation for V2 launch.
  • The former Chief Blockchain Officer told David Gokhstein in a recent interview that he will make products that support SafeMoon from the outside. 

SafeMoon is going through restructuring ahead of the V2 launch. CEO John Karony shared details of the team’s progress and addition of new members to replace Thomas Smith. 

SafeMoon makes progress on V2 launch  

SafeMoon’s V2 upgrade will improve the security on the network. The upgraded contract brings utility features like reducing tax by 80% for ecommerce and wallet transfers. For SafeMoon users, the net value of their holdings will remain the same. 

John Karony, CEO of SafeMoon explained that the net holdings of users will be divided by a factor of 1000, and the overall value remains the same. 

Transferring SafeMoon between two wallets is currently taxed at 10%, a drop by 80% makes it 2%. Users can migrate from V1 to V2 in two clicks, and a small amount of BNB to cover the transition fees. 

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Interestingly, SafeMoon recently announced that Chief Blockchain Officer Thomas Smith is now being replaced by a team. Karony shared details of the transition and revealed that the V2 upgrade is imminent, the handover process has started. There is no news of delay due to the transition.

The team has started a countdown and the upgrade is currently going through the final checks.  

Thomas Smith told David Gokhstein of Gokhstein Media that he will support SafeMoon externally. 

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Earlier this month SafeMoon was recognized as the crypto community of the year. Analysts are bullish on SafeMoon based on the recent price trend. 

SafeMoon ranks in one of the highest price gainers over the past 24 hours. 

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Adam Bergman, a cryptocurrency analyst at “The Adam Bergman Show” on YouTube is bullish on SafeMoon. Berg stresses on the role of centralized and regulated exchanges and SafeMoon’s roadmap and community in pushing the asset’s price higher. 

Bergman expects SafeMoon price to explode, similar to Binance Coin, Shiba Inu token and Crypto.com (CRO). 

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SafeMoon bulls return to the scene, preparing a bullish breakout to $0.000004

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  • SafeMoon price is still stuck in a bearish triangle for over a month now. 
  • The altcoin has   seens a bullish uptick in the RSI, revealing bulls back on the buy-side. 
  • Expect a breakout of the triangle, targeting $0.00000400 as the first profit target. 

SafeMoon (SAFEMOON) price has been stuck in a downtrend for over a month now after peaking at $0.00000700. With the formation of a base at $0.00000271, buyers are now showing an interest in SafeMoon coins again. An uptick in the Relative Strength Index (RSI) has provided further support for a rebound. Expect a bullish breakout when some tailwinds flare-up in cryptocurrencies, that could lift SafeMoon price towards $0.00000400.

SafeMoon price sees bulls building momentum for a breakout

SafeMoon price has been falling in a sequence of  lower highs and lower lows for most of November. Bears got an unpleasant surprise, however, when Safemoon price hit the base level at $0.00000271, and bounced. Upside price action today has already witnessed two tests of the red descending trend line.

SafeMoon price could now start rising rapidly as a short squeeze sees bears closing their positions en masse and booking profits. This could temporarily increase demand for SafeMoon,  leading to a bullish breakout above the red descending trend line that has been capping reactions during the November descent, which, in turn, could see even further buying in from bulls.

SAFEMOON/USD daily chart

SAFEMOON/USD daily chart

Dreams of revisiting the $0.00000700 October high may be unrealistic in the short term  (such a move would also result in a double top reversal pattern, which might then be followed by a retracement to the downside). Rather expect SafeMoon price to find an initial limit at $0.00000400 where the  30-day Simple Moving Average (SMA) will provide resistance. Should bulls be able to push through this level, however – possibly helped by some additional tailwinds – a rally could go as far as $$0.00000500..

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SafeMoon finds support floor, poised for a move to $0.000040

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  • SafeMoon price stabilizes and finds support at the $0.000030 level.
  • Daily Ichimoku support could buoy SafeMoon higher.
  • A 34% move could occur over a very short period.

SafeMoon price is currently down by more than 57% from the all-time high it made back on October 29th. Some hints of price stabilization against Senkou Span B could trigger intense buying pressure. If not, an extensive dive south is likely.

SafeMoon finds support at Senkou Span B, could spike 34% to test previous resistance

SafeMoon price is currently at a make or breakpoint. Senkou Span B is the most substantial level of support and resistance within the Ichimoku Kinko Hyo system, and that is precisely where SafeMoon now finds itself. To maintain Senkou Span B as support, SafeMoon will need to spike higher over the next two days.

Senkou Span B is currently at $0.0000030. Tomorrow, November 24th, Senkou Span B shifts to $0.0000040. Because this is the first time SafeMoon price has tested Senkou Span B as support, there is an extremely high probability that it holds as support – but that means a massive 34% drive higher is necessary. Failure to do so could trigger disaster.

SafeMoon price is just one day from triggering an Ideal Bearish Ichimoku Breakout on the daily chart. The necessary conditions for SafeMoon price to enter into that bearish breakout pattern are present save one: the current daily close below the Cloud.

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SafeMoon/USDT Daily Ichimoku Chart

If by tomorrow’s trading day, SafeMoon price is not trading at or above $0.0000040, a 50% drop to the 2021 Volume Point Of Control at $0.0000015 is likely to occur.

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