SafeMoon price took a massive tumble after May 21, which set the trading range for the future. Since this massive drop, SAFEMOON price has been trading extremely close to the lower boundary. On June 22, the altcoin created a new range low, which might be tested again.
SafeMoon price set up a new range low at price of $0.00000257 on June 22 and rallied roughly 34% to slice through the resistance level at price of $0.00000338. However, this climb was ephemeral, which led to a 16% downswing to the support level barrier at $0.00000295.
Although SafeMoon price is currently trading above the said demand floor, a lack of bullish momentum could likely shatter this area and push SAFEMOON price of down to the range low at $0.00000257, representing a 15% crash.
Depending on the resulting selling pressure and the potential buying pressure, there is a chance an price upswing might originate here. However, in a highly bearish condition, investors can expect the bears to slice through price of $0.00000257 and tag the next support barrier at $0.00000197.
On the flip side, if SafeMoon bounces off the support level at price of $0.00000295, it might tag the resistance level at $0.00000338. While it is likely, SAFEMOON price might sweep this barrier temporarily, a bounce from it will open the possibility of a further price uptrend, thus invalidating the bullish outlook.
In such a case, SafeMoon price might rally 10% to $0.00000374.
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