SafeMoon All-set for a Bull Run After the Recent Fall

SafeMoon All-set for a Bull Run After the Recent Fall
  • The SafeMoon price dropped 63%, slicing through the September 28 swing low.
  • SafeMoon is now trading at $0.000002, which is the resistance level.

On December 4, the SafeMoon price fell along with the market. In the process, it sank below a critical support level and into oversold territory. The SafeMoon price dropped 63%, slicing through the September 28 swing low of $0.00000104 and accumulating liquidity. A devastating fall followed by a correction is good for starting an upswing.

While the SafeMoon price is improving, the rise may not stay, and the cryptocurrency may sink below $0.00000108. The aforementioned bullish thesis will be invalidated if SAFEMOON makes a lower bottom below $0.000000617.

A year ago, SafeMoon soared by almost 600% between September 29 and October 29. Memecoins have been the most dominant and socially engaged cryptocurrencies. HoDooi.com, a multi-chain NFT exchange, has partnered with SafeMoon.

Immiediete Resistance at $0.0000022

SafeMoon V2 was a long-awaited return for the currency in free fall. However, Safemoon V2 will be introduced in a crowded DeFi market. Some of the currencies already have Safemoon community members.

SafeMoon is now trading at $0.000002, which is the resistance level. It has risen by almost 70% in the previous week. The price may rise during the following 24 hours.

SafeMoon is projected to regain its losses soon, with immediate resistance around $0.0000022. Following Saturday’s massive sell-off, many existing SafeMoon bulls and prospective buyers may be waiting to see whether the negative trend continues.

According to CoinMarketCap, the SafeMoon price today is $0.000002 USD with a 24-hour trading volume of $7,587,712 USD. SafeMoon is up 5.25% in the last 24 hours. 

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.