|

Safemoon price has 45% upside potential if bulls can break $0.000004

  • Safemoon price saw 111% of gains in just one week. 
  • With the renewed media attention, more buyers are attracted, and buy-side volume is picking up. 
  • When bulls can break $0.000004, expect the uptrend to hit $0.00000489$.

Safemoon (SAFEMOON) price has been in an uptrend throughout October and attracted much media attention after gaining just 111% of market value in a couple of days. With that renewed attention, more buyers, both retail and institutional, are buying Safemoon.

Safemoon price sees buy-side volume explode

Safemoon price has been on a good uptrend throughout October. But the uptrend accelerated after bulls broke and consolidated price above the 78.6% Fibonacci level at $0.00000296. The renewed media attention for Safemoon has created a favorable tailwind that now sees momentum building for a breakout in favor of the bulls. As the buy-side volume exploded in the past couple of days, expect the cap at $0.00000400 to break and a test of $0.00000489.

Safemoon price looks to be well-respecting the Fibonacci retracement from the all-time low towards the high from May. The white rectangles on the chart highlight interesting technical levels that fall in line with the different Fibonacci levels. This builds the case that with the current Safemoon price, the uptrend has still 45% of additional profits to go before hitting the next Fibonacci level to the upside.

SAFEMOON/USD daily chart

SAFEMOON/USD daily chart

As the current volume comes in on the back of significant media attention, expect this volume to potentially decline  should the favorable tailwinds start to fade. Expect Safemoon price to quickly retest  circa $0.00000296 and the green ascending trend line, which is the backbone of the current uptrend. A break below that ascending trend line would see Safemoon price quickly nose dive to $0.00000050.


 

Author

Filip Lagaart

Filip Lagaart is a former sales/trader with over 15 years of financial markets expertise under its belt.

More from Filip Lagaart
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.

Traders split over whether lighter’s LIT clears $3 billion FDV after launch

Lighter’s LIT token has not yet begun open trading, but the market has already drawn a sharp line around its valuation after Tuesday's airdrop.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.