SafeMoon Contemplates Further Recovery, Eyeing 40% Surge

  • SafeMoon recorded somewhat impressive price movements over the weekend, losing 3% only.
  • SAFEMOON bulls seem ready to break past the 23.6% FIB level, beyond $0.0012236.
  • The rising crypto demand might see SAFEMOON climbing to $0.001500 in the upcoming days.

SafeMoon almost broke the handle at $0.0010000, but market players stepped up, translating to a 13% upsurge. The altcoin has more room to surge as cryptos sees enlarged demand as Russians look for alternative payment methods as western nations stiffen sanctions. That would mean increased demand by buyers, leading to upswings towards $0.0016016, SAFEMOON gaining 40%.

SafeMoon Price Might See Further Upside

SafeMoon price functions could not record colossal outflows during the weekend. Such narratives emerged after western nations declared stiff financial sanctions against Russia. Meanwhile, markets start to appear above the sanctions’ decisions as individuals fully digest the news globally. Though most risk assets exhibit downtrends, they are far from lows seen at the ASIA PAC’s session opening.

SAFEMOON displays similar cases, looking ready to hit $0.0012236 in the coming hours. Moreover, the alternative coin might pop past the 23.6% FIB level. A daily close past the level would trigger a lucrative buy-recommendation. That will mean bullish dominating price movements. However, the oversold conditions by the Relative Strength Index show the narrative might shift, attracting investors.

SafeMoon can climb towards a 200-day Simple Moving Average at $0.0014698 or the historical level near $0.00161016. Remember, Ukraine-Russia developments will detect price movements in the coming sessions. Peaceful negotiation might see the altcoin tumbling. Meanwhile, Putin appears prepared for nuclear war, translating to a massive shock throughout the markets. Such developments will see SAFEMOON crashing towards $0.0010000.

The altcoin has lost nearly 65% within the previous 50 days, highlighting a massive retracement. This downswing appears to print a base as the token recorded a swing low near $0.00106 on 24 February. Furthermore, the following 24hr candle confirmed uptrend changes with a positive close.

Increased buying activity will see SafeMoon on steady recoveries, with few hurdles on its path. That way, market players can expect SAEMOON to rally towards the daily supply region, stretching between $0.00165 and $0.00175.

By Edward Richardson
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