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.
The most fundamental thing you need to understand about Safemoon is that it is not a crypto coin. It is a token that operates on the Binance Smart Chain (BSC). In crypto jargon, a coin is a cryptocurrency that operates on its own blockchain. It is not the same as a token.
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The SHIB/USDT pair formed a Doji candlestick pattern on Nov. 9 that resolved to the downside on Nov. 10. If bears sustain the price below the 20-day EMA ($0.000053), the pair could drop to the 78.6% Fibonacci retracement level at $0.000040 and then to the 50-day SMA ($0.000033).
SafeMoon utilizes a strategy wherein they prevent day exchanging of their coins to fix the value instability issue. SafeMoon declared a remuneration policy for the long-term and earliest holders of the tokens. Individuals selling the tokens will be hit by a 10% punishment charge expense on the exchanges, and 5% of these punishment exchange charges will be dispersed to the current token holders.
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Like most things with cryptocurrency, regulation comes with hurdles. “There are different agencies that may or may not have jurisdiction to oversee everything,” says Wang. “And it differs state by state.”
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The pair could first drop to $4,146.30 but if this support also gives way, the correction could reach the psychological support at $4,000.
On Oct. 21, Binance.US suddenly printed a one-minute candle that took BTC/USD from $65,815 to $8,200 — a drop of 87%.
Going by the technical analysis, showing the least resistance and support levels, SafeMoon price has had a historic voyage throughout, which could be the main reason for its popularity. Based on technical analysis, the current price of the SafeMoon token stands around $0.000005 with a market cap of $2,924,837,695. The 24 hours trading volume of the SafeMoon token stands at $35,099,950 with a circulating supply of 585,536,366,402,812 SAFEMOON. There are predictions galore by experts, and their forecast is worth pursuing, helping you decide to buy or sell the SafeMoon tokens.
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Bitcoin nears $70,000, while ether eyes $5,000 as the rally extends into a fourth day, aided by a weaker dollar and upbeat investor sentiment