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- SafeMoon price slows down after dropping nearly 52% over the past three weeks.
- This reversal in correction occurs as it retests the buy zone, extending from $0.00000302 to $0.00000215.
- Investors can expect an 80% upswing that tags the $0.00000558 resistance barrier.
SafeMoon price saw its uptrend face a massive blockade, triggering the start of a huge pullback. Due to the retest of a bullish zone, market participants can expect SAFEMOON to restart its bull rally.
SafeMoon price eyes higher highs
SafeMoon price rose 484% from its low at $0.00000104 to $0.00000609 in a month. This impressive climb faced exhaustion of buying pressure and profit-taking, leading to a 52% correction to retest the buy zone, stretching from $0.00000302 to $0.00000215.
As mentioned earlier, this area is where the downswing push assets into deep discounts, making it high probability reversal area.
Since SafeMoon price briefly dipped this area’s upper limit, investors can expect SAFEMOON to kick-start a new uptrend. The uptrend, however, will face three hurdles, $0.00000377, $0.00000470 and $0.00000558. Assuming the buying pressure is enough, a retest of the last level will indicate an 80% ascent.
In a highly bullish case, market participants can expect SAFEMOON to retest the range high at $0.00000615, representing a 95% rally from its current position at $0.00000314.
SAFEMOON/USDT 1-day chart
While things are looking up for SafeMoon price, this bullish outlook could start anywhere from 62% Fibonacci retracement level at $0.00000302 to 79% Fibonacci retracement level at $0.00000216.
However, a daily close below $0.00000109 will create a lower low and invalidate this bullish outlook for SafeMoon price.