Should You Buy SafeMoon (SAFEMOON) Thursday?

Thursday, September 29, 2022 11:59 AM | InvestorsObserver Analysts

SafeMoon receives a weak short-term technical ranking of 2 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. SAFEMOON has a superior recent technical analysis than 2% of tokens based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.

InvestorsObserver is giving SafeMoon a 2 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on SafeMoon!

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Trading Analysis

SafeMoon is $0.000000 (7.75%) higher than its 30-day low price of $0.000000007 while also -$0.000002 (-99.55%) lower than its high of $0.00000170 from the past month of trading. Meanwhile, SAFEMOON's current price of $0.000000008 is under its average price of $0.000000519 set over the past month of trading, leading to a weak short-term technical score. In summation, the recent trading history of SafeMoon suggest that traders are currently bearish on the token. SafeMoon's market cap of $4,268,138.26 is relatively low for a token. SafeMoon's relatively low market value comes as it sits under $100 million while the top 100 cryptos remain above $1 billion in market cap and the top 500 sit above $100 million. Meanwhile, SAFEMOON's average volume is low with $11,299.04 worth of the token traded over an average 24 hour period. SAFEMOON's volume is relatively low as the most traded 100 cryptos typically have $100 million exchanged each day and smaller cryptos tend to sit under $5 million traded over 24 hours. Over the last 24 hours, SAFEMOON's volume is below its usual with $1,503.50 exchanged.

Summary

SafeMoon's trading over the past 30 days leads to its a weak short-term technical score due to recent price movement suggesting more bearish signals for traders on the token in the near future. Click Here to get the full Report on SafeMoon (SAFEMOON).