SafeMoon (SAFEMOON) has been relatively more volatile compared to the crypto market. So far Wednesday, the crypto has dropped 2.55% to $0.000000005587568683.
Highly Volatile
InvestorsObserver gives SafeMoon a high volatility rank of 99, placing it in the top 1% of cryptos on the market.
The Volatility Gauge tracks meaning that one day won’t make or break its rank.
SAFEMOON’s high volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the token has relatively wide price swings and is well protected from price manipulation.
SafeMoon price is trading near resistance. With support around $0.00000000544366418153716 and resistance at $0.00000000561030066392761. This leaves SafeMoon with potential selling pressures ahead as it may be getting over extended.
What is a Token?
Tokens are digital assets that exist on another cryptocurrency’s blockchain.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You’re all set to receive the Morning Update newsletter
This news is republished from another source. You can check the original article here