SafeMoon Price Prediction: SAFEMOON hints at an 18% upswing

SafeMoon price dropped below a crucial supply barrier as the markets tumbled on June 7. If the flagship cryptocurrency makes a comeback, investors can expect SafeMoon to follow suit.

SafeMoon price eyes a quick reversal

SafeMoon price was on the road to recovery when Bitcoin price took a fall. This sudden uptick in selling pressure pushed SAFEMOON from $0.00000398 to $0.00000315, a 20% crash. The downswing sliced through a crucial support barrier at $0.00000344. While the risk of further downside remains, SafeMoon price shows the possibility of a reversal.

For the bullish outlook to manifest, SAFEMOON should produce a decisive 4-hour candlestick close above $0.00000344. If such a move were to happen, the altcoin could eye a quick 17% upswing to tag the 50% Fibonacci retracement level at $0.00000397. 

In some cases, SafeMoon price could also sweep the highs to test the 100 four-hour Simple Moving Average (SMA) at $0.00000402, an 18% rally from $0.00000344.

In a bearish but less likely scenario, SAFEMOON price might drop to the range low at $0.00000271 before kick-starting an uptrend.

SAFEMOON/USDT 4-hour chart

On the other hand, a breakdown followed by a retest of the swing low at $0.00000271 will invalidate the optimistic narrative. Such a bearish move would signal the start of a new downtrend and might even trigger a sell-off that could push SafeMoon price down by 25% to $0.00000202.