SafeMoon price embarks on an uphill battle

SafeMoon price embarks on an uphill battle

 

 SafeMoon price is currently attempting to push toward the range low in hopes of reclaiming it. If successful, the price bulls need to set up a higher high to trigger an uptrend.

While not impossible, an ascent in the market value of SAFEMOON price will likely face delays.

SafeMoon has been on a price downtrend since its May 26 swing high. Although there were multiple attempts to head higher, they were feeble and ended up as lower highs. The recent sell-off exacerbated the bearish outlook as it sliced through the range low at a price of $0.00000273.

While the present situation for SAFEMOON price might appear bearish, a swift recovery above the said level will alleviate the pain if not extinguish it.

However, if the buyers propel this altcoin to produce a decisive 12-hour candlestick pattern close above the $0.00000295 resistance level, it will have set up a higher high, suggesting that the price bulls mean business.

Such a move will open the path for buyers to catapult SafeMoon price to vital levels like $0.00000338 and $0.00000374 levels, roughly 34% and 48% away from the current position at $0.00000252.

While the bullish expectation seems logical, it will face severe headwinds if it fails to price recover above $0.00000273 or set up a higher high above $0.00000295.

In such a case, a spike in selling pressure that pushes SafeMoon’s price to produce a decisive 12-hour candlestick pattern close below the July 20 swing low at $0.00000216 will invalidate the bullish thesis.

If the bearish momentum persists, the SAFEMOON price will retest the support level at $0.00000198.

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