SAFE has become the most efficient Altcoin of the time, its price increasing by 5% in the last 24 hours and its market capitalization now nearly $ 300 million. The piece shows strong technical indicators despite certain mixed signals of Momentum oscillators who suggest that consolidation could be on the horizon.
The technical analysis of the EMA lines remains optimistic, with short-term averages positioned favorably above those in the long term, pointing to an immediate continuous force. However, recent RSI and Bbtrend readings indicate that a potential cooling period could approach as the asset digests its recent gains.
The RSI sure is back at neutral levels after reaching overcrowd levels
SAFE RSI is currently at 54.71, now a neutral position in the last three days after having experienced significant momentum earlier in the week.
This moderation in the indicator suggests that the previous purchase pressure has been somewhat soothed, allowing the assets to consolidate after recent price movements.
The current neutral reading indicates a balanced market where neither buyers nor sellers have a decisive advantage.
The relative resistance index (RSI) is an oscillator of Momentum which measures the speed and change of price movements on a scale of 0 to 100. Generally, a RSI reading greater than 70 is considered an excessive display, suggesting an inversion or a potential decline, while the readings less than 30 indicate conditions of exceeding which could precede a rebound.
With the RSI of Safe’s RSI recently with a peak at 87 only four days ago, the asset was in highly exaggerated territory, signaling excessive purchasing enthusiasm. The current value of 54.71 represents a significant cooling of these extreme levels, which suggests that the price of Safe could enter a stabilization period.
This moderation can provide a healthier basis for the action of sustainable prices in the future, because the previous excessive conditions have been worked without passing through the territory of occurrence. This potentially indicates the underlying force of the assets despite the retirement of recent heights.
Safe Bbtrend is still high, but from yesterday
The safe is currently at 13.6, now a positive position in the last two days after reaching a peak of 19.39 yesterday.
This recent positive trend suggests that the price movement has grown, although there seems to be a certain moderation of the higher reading of yesterday.
The continuous positive bbtrend indicates that the asset is still showing strength, despite the slight withdrawal of yesterday’s advanced value.
Bbtrend (trend of Bollinger strips) is a technical indicator that measures the strength and direction of a trend by analyzing the relationship between price and Bollinger bands.
The indicator generally varies from negative values to positive values, with readings above 0 indicating an upward trend and readings below 0 suggesting a downward trend. With Bbtrend de Safe at 13.6, this suggests a moderately strong upward trend that could indicate a potential for a continuous short -term price for Altcoin.
However, the decrease in the 19.39 peak of yesterday could report a slowdown in the momentum, potentially leading to consolidation before the following significant follow -up.
Will the security trend be coming back soon?
The safe EMA lines are still bullish, with short-term lines positioned above those in the long term. This positive alignment of the medium of exponential moving indicates a continuous rise in prices’ action.
If this upward moment maintains its strength, security could potentially climb to test the resistance level at $ 0.72.
If this resistance was successfully broken, the next target would be $ 0.879. Altcoin could exceed $ 0.90 for the first time since January 19, supporting its momentum as one of the most trendy altcoins.
On the other hand, as indicated by the RSI and Bbtrend indicators, the upward trend seems to lose a certain momentum. This could point out a potential reversal in the near future.
If the opposite trend, SAFE can test the level of support nearby at $ 0.54, which is precariously near the current price.
If this level of support is not, more downwards could see a drop in security to test the support levels later at $ 0.48 and $ 0.40. In the worst case, a drop up to $ 0.35 could potentially occur.
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