- SafeMoon price coils up under a crucial resistance level at $0.00000239.
- A sudden burst in buying pressure that shatters this barrier can kick-start a 35% ascent.
- In some cases, SAFEMOON could pull back to $0.00000198 or $0.00000175 support floors.
SafeMoon price is grappling with the last hurdle before a leg-up that will continue its two-month-long bullish bottom reversal pattern. Therefore, clearing this barrier will likely trigger some gains for the holders.
SafeMoon price edges closer to breakout
SafeMoon price formed a bottom on September 28 at $0.00000109 after a 66% descent. This was a turnaround point for SAFEMOON as it rallied 120% from this point to where it currently trades.
This price action shows that SafeMoon price is forming a rounding bottom and will continue to head toward the peak at $0.00000311.
Currently, SafeMoon price is under the $0.00000239 resistance barrier, which is the only hurdle preventing a 35% ascent. Therefore, clearing this hurdle will kick-start a big bullish move. Additionally, this is the last buy opportunity SafeMoon price will present before a move to $0.00000311.
Investors can expect a retracement after hitting $0.00000311, but in some cases, SafeMoon price might extend its ascent and tag $0.00000330 or the next resistance barrier at $0.00000345. This climb would constitute a 45% gain from the current position.
SAFEMOON/USDT 1-day chart
Otherwise, SafeMoon price might retrace toward the $0.00000198 support level before triggering a bullish move.
If the selling pressure persists, SafeMoon price could also retest the subsequent demand floor at $0.00000175 while keeping the bullish thesis intact. However, any move below this barrier will open the possibility of putting an end to the optimistic outlook.