SafeMoon price struggles to establish a clear floor after pulling back nearly 50% from the all-time highs it established in late October. Last Friday showed some evidence that a continuation move higher may occur, but that quickly fizzled out.
Dogecoin, founded in 2012 as a joke, has drawn widespread attention from high-profile personalities such as billionaire entrepreneur Elon Musk and rapper Snoop Dogg.
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SafeMoon is one among the handful of cryptocurrencies that made it to the top 100 crypto-list on its own. SafeMoon did not have the backing of top trading platforms and managed to gain investors’ attention by its projects alone.
Crypto exchanges on a growth path shared a few common traits: they're larger, more innovative and offer more digital assets than their competitors.
This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
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Overall, it appears from these results that cryptocurrencies may experience short term intervals of co-movement, caused by sector wide news or cross market contagion, though correlation is likely to change dependent on the nature of the causal event and market environment. In the medium and longer term Bitcoin and Litecoin are strongly related; it is believed this is due to their similarity.
The new team, called Twitter Crypto, is aimed at being the center of excellence for "all things blockchain and web3," Financial Times reported.
Competing interests: The authors have declared that no competing interests exist.
Now that Bitcoin has reached the channel’s lower trendline, an upswing toward its middle or upper trendline could be underway. These crucial areas of resistance sit at $66,000 and $70,000 respectively.
In other words, if you're waiting for Safemoon to hit $1, you'll likely be waiting for a long time.