The price of SafeMoon has risen by as much as 13% in the Tuesday trading session.
A breach through the Senkou Span SafeMoon is now trading at $0.0000024.
The approval of a Bitcoin futures ETF might have a detrimental impact on SafeMoon.
With movements as high as 13% above the open, the SafeMoon price has been one of the top performers of the day. While the breakout over $0.0000019 is positive, SafeMoon needs sustain momentum to go above the Cloud and achieve unambiguous bullish circumstances.
The price of SafeMoon breaks out over $0.0000019, with $0.000024 being the next test.
The price of the SafeMoon has one more barrier zone ahead of it: $0.0000024. In the Ichimoku Kinko Hyo system, the top of the Cloud (Senkou Span B) is the most significant level. It marks the chart’s most difficult level of resistance. Now the issue is if SafeMoon has the momentum to break through at $0.0000024. Yes, according to the oscillators.
Since the start of the SafeMoon price chart history, the Relative Strength Index has been in bear market zone (May 2021 on this chart data). However, there are significant indications that the first bear market to bull market transition is approaching. Just as the Relative Strength Index is set to cross above the ultimate oversold level of 65, the Composite Index is poised to cross above the slow-moving average. This might result in significant purchasing pressure, pushing the SafeMoon price to $0.0000030.
SafeMoon, on the other hand, is subject to Bitcoin’s price fluctuations. If Bitcoin has a broad sell-off as a result of the Bitcoin futures ETF frenzy, the present optimistic prognosis for Safemoon pricing might simply be falsified. If SafeMoon closes at 0.0000015 or lower on a daily basis, bearish sentiment will resurface.