• SAFEMOON’s price remains stuck, consolidating in the constricted range between $0.0196 and $0.0017.
  • The latest upswing could not print a higher high beyond $0.0192, indicating inadequate momentum.
  • A downward move towards the support of $0.0180 appears possible for SafeMoon.

SafeMoon price could not react following the latest bullishness in the crypto market, translating to consolidation within a tight range. Meanwhile, SAFEMOON saw an underwhelming return over the past week, considering actions by other altcoins.

SAFEMOON at a Tipping Zone

SafeMoon gained nearly 9% within the past four days, suggesting inadequate bullish strength as the broad market records an upside move. Despite the struggles, the alt could not form a higher high beyond the 1 February swing peak at $0.0192.

For now, SAFEMOON indicates potential downtrends. The resulting pullback might see the coin retesting the closest support zone of $0.00184, then $0.00180. If selling momentum intensifies, SafeMoon will increase its probability of retesting the 3 February swing lows of $0.00176. Meanwhile, buyers can join at this level to create a base, forming a double bottom before launching a potential new run-up.

Though the narrative seems non-volatile for the token, a possible buying momentum upsurge for SafeMoon to form a 4hr candle close beyond R0.0196 will produce a higher high, annulling the bearish case. Such a development might see SAFEMOON retesting the 4hr supply region, stretching between $0.0200 and $0.0203.

Nevertheless, SafeMoon’s upcoming actions may rely on financial market performance. For now, the crypto spectrum flashes upswings. While publishing this post, the global market capitalization flashes bullishness at $2.03 trillion, following a more than 2% increase within the last day. The upsurge comes as top crypto assets display positive actions over the past few sessions.

Bitcoin’s remarkable surges since yesterday painted the overall crypto market green. While writing these lines, BTC hovers at $44,914, inching towards the vital level at $45,000. Keeping the resistance at $44,500 support away may support further surges towards $47,000 before pullbacks emerge. That way, the altcoin market will reflect an upward attitude, triggering upticks in SafeMoon.

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