Jonathan Morgan
Independent Analyst
- 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.
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.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin consolidates after a new all-time high of $99,500
Bitcoin remains strong above $97,700 after reaching a record high of $99,588. At the same time, Ethereum (ETH) edges closer to breaking its weekly resistance, signaling potential gains. Ripple holds steady at a critical support level, hinting at continued upward momentum.
Sandbox hits fresh yearly high as on-chain metrics reach record highs
The Sandbox continued its rally and hit a fresh yearly high of $0.8680 in the early Asian session on Monday after surging over 121% last week. However, at the time of writing, SAND retraces and stabilizes around $0.7600.
Why is Dogecoin price down today?
Dogecoin (DOGE $0.4243) is retreating after reaching its highest levels since May 2021, suggesting a growing profit-taking sentiment among traders following Donald Trump’s win.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.