Does This Altcoin Offer a Buying Opportunity Without Doubling Its Price?

Altcoins trying to be one of the shining stars of the world SafeMoon, price in the last day 233% It looks like it went into a recession after recovering. Here are the November 2, 2021 SafeMoon price analysis and predictions for the future of SafeMoon.

A successful bounce off the $0.0000377 support base will likely trigger another 100% rise for SAFEMOON. Closing below the $0.0000377 level may invalidate this bullish argument.

Although SafeMoon is not a “meme coin (joke coin)”, it has experienced increases in price following the trend of DOGE and SHIB, which are increasing in price. Trying to show that it is strong, SAFEMOON started to give the signals of the rises to be experienced in the future.

SafeMoon price is from September 29 to October 29 461% increased and is currently experiencing a minor correction. So far, SAFEMOON has corrected 25% and is hovering around the $0.0000470 support base.

If this level is broken to the downside, a drop to the $0.0000377 levels can be seen. A drop to this level could trigger a new bull rally by returning buyers. Investors can expect SAFEMOON to consolidate between $0.0000377 and $0.00000470 and build strength for the next step.

For this bullish thesis to be valid, it will be important to break the resistance at $0.00000558. This move will set the ground for a rise for SafeMoon price to clear the 0.00000774 and $0.00000915 hurdles. Retesting the previous barrier represents a 104% gain at $0.0000377, while testing the second barrier represents a 140% rise.

Investors should pay close attention to its price and how retracements occur before investing in SafeMoon.

SAFEMOON/USDT 1-day chart

If SafeMoon searches for a bullish price and finds a daily close below the $0.0000377 level, it could capitulate the markets to the bears (bearish chart). This move will naturally invalidate the bullish thesis and may trigger a break of the immediate support level at $0.00000310.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.

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