• SafeMoon price may be shaping a cup completion cheat pattern on the two-hour chart.
  • 200 two-hour simple moving average (SMA) emerging as an obstacle.
  • SAFEMOON reacts to a bearish momentum divergence on the two-hour Relative Strength Index (RSI).

SafeMoon price has been engaged in a bottoming process that has twisted investors with various buy signals that eventually failed or never triggered. Currently, SAFEMOON appears to be framing a new bottoming pattern that could offer a timely opportunity to capture a 20% return.

SafeMoon price proves that it can get up and fight another day

SafeMoon price rallied almost 80% from the June 22 low of $0.00000230, surpassing the 50 two-hour SMA and logging the first overbought condition on the two-hour RSI since early May, demonstrating an impulsive bid and decisiveness for the rookie cryptocurrency. The SAFEMOON rally has culminated with a vigorous test of the 200 two-hour SMA and a negative momentum divergence on the RSI.

The emerging SAFEMOON corrective process around the 200 two-hour SMA at $0.00000382 is supported by the 50 two-hour SMA at $0.00000352. SafeMoon price has removed some of the overbought condition as it develops the handle of a cup completion cheat pattern with a trigger price of $0.00000410.

Cup completion cheat patterns generally develop in the bottom half of a cup formation and provide an early but timely opportunity to participate in the momentum accompanying the base’s right side. The SAFEMOON pattern is currently developing around the middle of the base.

It is anticipated that SafeMoon price will continue to consolidate the recent 80% gain. Still, it may dip lower than the 50 two-hour SMA, thereby pushing the RSI down near an oversold reading. It would be a healthy and constructive evolution that will instill the price energy to overcome the trigger price of $0.00000410 and carry SAFEMOON to the target of $0.00000500, representing a 20% gain.

If the momentum is strong, SafeMoon price will likely test the 50-day SMA at $0.00000507.

SAFEMOON/USD 2-hour chart

SAFEMOON/USD 2-hour chart

A drop below $0.00000331 will defeat the bullish SAFEMOON pattern and place SafeMoon price in a vulnerable situation. A resumption of heavy selling pressure in the cryptocurrency complex could knock the token back to the June 22 low of $0.00000230.


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


Recommended Content

Editors’ Picks

Bitcoin volatility hits multi-month lows, raising concerns of liquidation cascades

Bitcoin volatility hits multi-month lows, raising concerns of liquidation cascades

Bitcoin price has been consolidating between $94,000 and $100,000 for two weeks. Defund exchange FTX repayments on Tuesday dipped Bitcoin towards its lower boundary of the consolidating range.

More Bitcoin News
Litecoin bulls target $170 mark as open interest reaches four-year high of $887 million

Litecoin bulls target $170 mark as open interest reaches four-year high of $887 million

Litecoin price extends its gains and recovers above the $135.00 level on Wednesday, rallying over 7% so far this week. LTC’s open interest hints at a continuation of the rally as it reaches the highest level since May 12, 2021, of $887 million. 

More Litecoin News
Maker Price Forecast: MKR generates highest daily revenue of $10 million

Maker Price Forecast: MKR generates highest daily revenue of $10 million

Maker price extends its gains by 6%, trading around $1,189 on Wednesday after rallying more than 20% so far this week. On-chain data support a bullish move ahead as MKR generated a new yearly high in daily revenue, and funding rate data is positive.

More Maker News
Ripple's XRP holds symmetrical triangle support as SEC acknowledges Bitwise XRP ETF filings

Ripple's XRP holds symmetrical triangle support as SEC acknowledges Bitwise XRP ETF filings

Ripple's XRP is down 3% on Tuesday despite the Securities and Exchange Commission (SEC) acknowledgment of Bitwise XRP ETF. Unchained Crypto noted that XRP ETF could underperform due to key fundamental issues.

More Ripple News
Bitcoin: BTC consolidates before a big move

Bitcoin: BTC consolidates before a big move

Bitcoin price has been consolidating between $94,000 and $100,000 for the last ten days. US Bitcoin spot ETF data recorded a total net outflow of $650.80 million until Thursday.

Read full analysis
The Best brokers to trade EUR/USD

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.

Read More

BTC

ETH

XRP