Briefly –

• SAFEMOON price remained stuck with sideways movements for nearly one week without directional signs.
• A drop into the reversal territory within the $0.00000965 – $0.00000118 range will offer a discounted accumulation opportunity.
• A breakdown of the $0.000000700 range low will overthrow the bullish narrative.

SafeMoon price has witnessed its recovery stopping as it remained to consolidate since 13 December. The sideways actions will likely plunge low towards dependable support floors before rising higher. Sidelined buyers can use the brief correction to accumulate SAFEMOON at a discount.

SafeMoon Price Indecisive

SafeMoon lost 70% amid the 4 December crash, forming a swing low near $0.000000700 as the cryptocurrency markets endured collapse. The price recovery from the plummets had SAFEMOON gaining 179%, creating a range high near $0.00000196.

However, SafeMoon recorded another 28% drop, setting a swing low around $0.00000140, kick-starting a continued consolidation. SAFEMOON has not shown actions to move lower or high since 13 December, showing faded investor confidence.

As highlighted earlier, the altcoin might dip further towards the reversal area, extending between $0.00000964 and $0.00000118. Retesting this value area will present a dip-buying opportunity, attracting a near-term bullish momentum. That way, SAEMOON’s price might gain 66% to retest the $0.00000196 range high.

Keep in mind that the bullish narrative presumes that SafeMoon buyers step up around the reversal territory. If the crypto markets see widespread panic, the bullish strength will lack the momentum to propel the alt to higher levels.

Such conditions may see SAFEMOON price retesting the $0.000000700 range low. Breaching this footing will mean postponing bullish outlooks. The down move will attract more bears to reform an all-time low.

For now, SafeMoon appears to lack momentum after sideways movements for nearly a week of no directional signs. As the alt venture into a downward road, market analysts see a dip-buying opportunity that might trigger trend reversals.

SAFEMOON awaits a buy signal to attract bulls to trigger an upward move. However, the alt might depend on the crypto market sentiments for future price moves. Massive bullishness will mean a lucrative surge for the alternative coin.

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