Can the second half of 2022 be kind to SafeMoon price? - Aliens: AI Crypto News & Markets Updates
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Can the second half of 2022 be kind to SafeMoon price?

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FX Street

Fri, Jul 01, 2022

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Aliens TLDR

A daily candlestick close below the range low at $0.000356 will invalidate the bullish thesis for SAFEMOON.

SafeMoon price shows a bullish outlook that seems too good to be true.

SafeMoon price consolidated between the $0.000584 and $0.000414 levels since June 19.

Factoring in the state of Bitcoin, which is looking bullish and ready for a bounce, investors need to prepare for a similar outlook for SafeMoon price.

If bullish momentum overcomes this hurdle, market participants can expect SafeMoon price to make a run for the 70.5% retracement level at $0.000876.

SAFEMOON/USDT 1-day chart While things are looking bullish for SafeMoon price after the recent consolidation , investors need to note that the altcoin tagged the range low at $0.000356 multiple times.

If a sweep of the said level materializes, SafeMoon price could produce a daily candlestick close below the range low to invalidate the bullish thesis.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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