- SafeMoon price action has been muted over the past few months.
- Traction has been momentary as the altcoin reached a swing high of $0.00000401.
- However, SafeMoon was unable to break above the technical pattern and could now be headed for a 40% drop.
SafeMoon price continues to trend sideways as it is sealed in a consolidation pattern, with little hope of moving higher. SAFEMOON could be headed for a 40% drop as buyers are nowhere to be found.
SafeMoon price is going nowhere
SafeMoon price action has been uneventful as it continues to move within a descending parallel channel pattern on the daily chart. SAFEMOON appears to have lost momentum as there is little chance for the altcoin to bounce back.
In fact, SafeMoon price could be awaiting a steep drop, as trading volume has diminished, which means investors are uninterested in SAFEMOON.
The bears could aim for a 41% plunge to $0.00000113, as this level acts as the next significant level of support for SafeMoon price.
Further selling pressure could even push SAFEMOON lower to tag the April 10 low at $0.00000065. Only an astonishing turn of events that incentivizes an extended move to the downside could see SafeMoon price hitting the lower boundary of the parallel channel at $0.00000048.
Should the bulls aim for a recovery, SafeMoon price is faced with an immediate obstacle at the middle boundary of the governing technical pattern at $0.00000205.
SAFEMOON/USDT daily chart
The following hurdle for SafeMoon price is at the 20-day and 50-day Simple Moving Averages (SMAs) that coincide at $0.00000231. Only a significant push to the upside accompanied by an uptick in buying pressure would see SAFEMOON attempt to tag the 100-day SMA at $0.00000281.
Should the bulls aim for bigger aspirations, SafeMoon price could reach the topside trend line of the parallel channel, which sits near the 23.6% Fibonacci retracement level at $0.00000360.
Given the lackluster performance of SafeMoon price over the past few months, higher levels are not expected at the moment. In fact, SAFEMOON will most likely continue trending within the prevailing chart pattern.
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

AI Tokens Price Prediction: Story, Virtuals Protocol rebound following sell-off after US strikes on Iran
Geopolitical tensions in the Middle East caused a liquidation havoc of over $1 billion in the cryptocurrency market over the weekend, following US President Donald Trump’s direct involvement in the conflict between Israel and Iran.

Crypto Today: Bitcoin, Ethereum, XRP flash recovery signals after rollercoaster weekend
The cryptocurrency market is gearing up for recovery following a geopolitical tension-triggered sell-off over the weekend after the United States (US) struck Iran's nuclear sites in support of Israel's campaign.

Quant Price Prediction: Award-winning payment platform eyes bullish reversal
Quant edges higher by 1% so far on Monday, after winning the Best Programmable Payment Platform at the Future of Finance Awards. The optimism surrounding Quant grows in the derivatives market, evident with the QNT Open Interest spike.

Bitcoin Price Forecast: BTC rebounds to $102,000 as MetaPlanet buys the dip, geopolitical fears linger
Bitcoin (BTC) price rebounds slightly, trading around $102,000 at the time of writing on Monday after dipping to $98,200 the previous day. Institutional investors further supported the price recovery as MetaPlanet added 1,111 BTC to its treasury reserve.

Bitcoin Weekly Forecast: The calm before the storm
Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.