- SafeMoon price sliced through two crucial demand barriers, confirming that a sell-off is underway.
- A bounce on or before retesting the $0.00000145 support level is the last chance before panic-selling.
- The resulting upswing from a rebound could propel SAFEMOON price by 45% to $0.00000217.
SafeMoon price showed no resilience as it cut through stable and crucial support levels. While the current situation might seem bearish, things can turn around if the bulls manage to make a comeback soon.
SafeMoon price has one last chance to reverse
SafeMoon price shows no signs of slowing its descent even as it sliced through $0.00000217 and $0.00000194 support levels. This downswing suggests that investors are on a selling spree. While this bearish outlook might induce panic, things can still turn around if the buyers make a comeback around the $0.00000145 support level or before it.
If this were to occur, the resulting buying pressure would easily push SAFEMOON to shatter $0.00000194 and retest $0.00000217, roughly a 45% upswing.
In a highly bullish case, the $0.00000270 resistance level can flip to become a support barrier. This move would attract the sidelined investors, and the upswing might continue to scale other supply zones.
SAFEMOON/USDT 12-hour chart
On the other hand, if the $0.00000145 support floor is shattered, it will signal a weakness among buyers and persistent selling pressure.
Such a move will not dent the optimistic scenario explained above but will invalidate it. This development might trigger panic-selling, pushing SafeMoon price to revisit the April 7 swing high at $0.000000911.
If the bearish momentum continues to pour in after retesting $0.000000911, $0.000000656 might be next.
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