SafeMoon v2 (SFM) March, which is the anniversary of the company, is followed with interest by both fans and investors. The price action on SafeMoon v2’s shorter time frame appears to be bullish and buy signals were seen on the RSI and MACD. Should the outlook change as predicted, SFM price could gain up to 26% in the coming days.
SafeMoon Hourly Time Zone Chart
SafeMoon V2 priceSince Feb. 24, it has moved within the confines of an upper channel, forming two high highs and two high lows. An up channel that is considered an uptrend shows a clearly defined uptrend in the market. Price rallies between the two trend lines and slides higher on the chart until a breakout occurs.
The current candles of SFM are quite close to the lower trendline and some indications were that the price would recover. For example, the 100-period EMA turned bullish, further tightening the lower bound’s defense against a breakdown. Additionally, the hourly RSI level managed to rise from 30 and went up to 50-55 levels as the bulls reacted to the oversold. Finally, the MACD was on the verge of an uptrend and the same usually creates more buying pressure in the market.
If traders follow these positive signals, SFM will target a new high at $0.001445. The up channel has the potential to expand to the $0.001650 resistance as the price of SFM moves between the lower liquidity zone. The resulting move represents a 26% increase from the current level of SFM.
Meanwhile, a close below $0.001812 will threaten the bullish outlook. An invalidation below a swing low could even create a downtrend with an instant reversal of $0.000990 SFM.
SafeMoon Updates
3-6 months I don’t foresee any challenges…a few unknowns, … challenges no. We are finishing out a lot of things we started. I am excited for the next 6 months. One of the products that you will see #SAFEMOON will actually be implementing into our business operations.
—Karony pic.twitter.com/e4w41aVPJm— 🔥SafeMoonWarrior (@SafemoonWarrior) March 3, 2022
Meanwhile, SafeMoon Army reacted positively to CEO John Karony’s comment about a Discord group. Karony stated that he is looking forward to the next 6 months without foreseeing any obstacles and that even a product can be put into operation in a short time. Twitter users started to share the post by taking note of the developments.
John Karony on the next 6 months for #SAFEMOON 👀 🚀🌕 pic.twitter.com/ibN8sLTwh6
— Fabo (@FaboisMe) March 3, 2022
Current products of the project include a wallet and version 2 of the protocol called SafeMoon V2. A stable wallet and an exchange have not yet been released.
Recent Twitter mentions were reflected on Lunar Crush on March 2 and 3 as SFM’s social volume increased. Although reading has dropped in the last 24 hours, weekly social volume still came in at a positive 6.3% rate.
Price Strategy
SFM’s price is a good buying opportunity as it is supported by a healthy social score and encouraging signs on hourly indicators. A buy order can be set at $0.001310 and take profit can be set at $0.001650. The stop-loss should be held at $0.001170 just below the February 28 low. The trading scheme carries a risk/reward ratio of 2.34.
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.