SafeMoon (SFM) has surged almost 60% within the final two days and 490% previously week following its migration from BNB to Solana. The speedy worth enhance has pushed key indicators into bullish territory, with ADX confirming robust pattern momentum and EMA traces forming a golden cross.
Nevertheless, BBTrend stays in detrimental territory regardless of briefly turning constructive, signaling that promoting strain nonetheless lingers. If the uptrend fails to carry, SFM may face a pointy correction, probably dropping as much as 55% from its current highs.
SafeMoon ADX Exhibits the Uptrend Is Robust
SafeMoon’s Common Directional Index (ADX) is at the moment at 31.5, a major rise from 17.7 only a day in the past. This sharp enhance means that pattern power has dramatically improved, reinforcing the opportunity of a extra outlined directional transfer at a second when meme cash are having a tough time.
With ADX now above the important thing 25 threshold, it indicators that SafeMoon is transitioning from a weak pattern right into a stronger section.
On condition that SFM is making an attempt to ascertain an uptrend, the rising ADX signifies rising momentum, probably supporting additional worth will increase if shopping for strain continues to construct.
ADX, or the Common Directional Index, is a technical indicator that measures the power of a pattern with out figuring out its route.
Usually, values above 25 point out a robust pattern, whereas readings beneath 20 counsel weak or indecisive market situations. With SFM’s ADX now at 31.5, it confirms that momentum is strengthening, supporting the case for a sustained transfer greater. Nevertheless, whereas ADX reveals pattern power, the route will depend upon whether or not shopping for strain stays dominant.
If bullish sentiment continues, SFM may solidify its uptrend, but when promoting strain returns, worth motion may turn into extra unstable regardless of the rising ADX.
SFM BBTrend Briefly Touched Constructive Ranges, However It’s Adverse Once more
SFM Bollinger Band Pattern (BBTrend) is at the moment at -6.54, after briefly touching a constructive worth of 4.88 yesterday. Nevertheless, this bullish transfer was short-lived, and SFM’s BBTrend has remained in detrimental territory since February 26.
The pattern reached its lowest level at -58.3 on March 2, signaling excessive bearish momentum on the time.
Whereas the present degree is a major enchancment from this current low, the truth that SFM was unable to maintain a constructive BBTrend means that promoting strain stays a dominant pressure available in the market, regardless of the present worth surge.
BBTrend, or Bollinger Band Pattern, is a technical indicator used to evaluate the power and route of worth motion primarily based on Bollinger Bands. Constructive values point out that the worth is buying and selling within the higher portion of the bands, signaling bullish momentum.
In distinction, detrimental values counsel that the worth is inside the decrease bands, reflecting a bearish pattern. With SFM BBTrend now at -6.54, it signifies that whereas the acute bearish situations from March 2 have eased, the asset remains to be in a detrimental section.
If BBTrend strikes again into constructive territory and holds, it may sign a shift towards a stronger restoration, but when it continues to pattern downward, it might verify that SFM stays below promoting strain.
SafeMoon Might Right By 55% Quickly
SafeMoon EMA traces are at the moment forming a golden cross, a bullish sign that always precedes upward momentum. A golden cross happens when a shorter-term EMA crosses above a longer-term EMA, indicating a shift towards bullish market situations.
SafeMoon is trending after its current migration from BNB to Solana. If this pattern holds, SFM may rise to check the resistance at $0.000128. A profitable breakout above this degree may push the worth additional towards $0.000134.
This formation means that bullish momentum is constructing, probably setting the stage for a stronger restoration if patrons maintain their strain.
Nevertheless, as indicated by BBTrend, the uptrend stays fragile and will rapidly reverse into a robust correction.
If bullish momentum fades and promoting strain will increase, SFM may drop to check assist at $0.0000659.
A breakdown of this degree may speed up the decline, pushing the worth as little as $0.000038.
Disclaimer
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