SafeMoon seemed to be confirming the uptrend when it breached the immediate supply level briefly. However, the inability of the buyers pushed SAFEMOON's price below it. However, the altcoin will likely take another jab at an uptrend as the pullback finds a foothold.
SafeMoon price tried recuperating after the crash experienced from June 20 through June 22. While this attempt briefly sliced through the resistance level at a price of $0.00000295 on June 23, the lack of buying pressure prevented SAFEMOON from staying above it. As a result, SafeMoon retraced 18% to where it currently stands at a price of $0.00000274.
The range low at $0.00000257 is the last line of defense for SAFEMOON. Therefore, a spike in buying pressure at this barrier level will most likely catapult the cryptocurrency by 14% to the first resistance barrier at a price of $0.00000295.
Breaching the said ceiling will open the path for SafeMoon to retest the subsequent resistance level at a price of $0.00000338.
While unlikely, if the bullish momentum persists after tagging the $0.00000338 level, SAFEMOON price will take a jab at the June 20 swing high at $0.00000373.
On the other side, if SafeMoon price breaches the range low at $0.00000257, it will indicate weak buying pressure. This move would open up SAFEMOON's price for further downside risk.
A potential 22% sell-off to $0.00000198 will likely ensue if the price of $0.00000257 breaks down.
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