SAFE Crypto Records Breakout: Can It Unfold Further Gains?

After hovering in a range for over two months, the SAFE price has registered a sharp breakout. The price crossed the $1 mark with a substantial

After hitting a new low of $0.70 in January, the SAFE price began to recover with a bullish momentum. The token price surged over 80% in the last 48 hours, registering a multi-month breakout.

The buyers established their upper hand this week by forming a ‘god candle’ near the $0.80 mark last month. Now, the SAFE price crossed the $1 mark with a substantial rise in trading volume. It was trading at $1.66 at press time, with an intraday rise of over 21.20%.

The Relative Strength Index (RSI) curve spiked to the overbought zone, indicating heightened buying pressure. A golden crossover was observed as the 50-day EMA line crossed above the 100-day EMA, hinting at a further bullish rally.

After hovering in a range for over two months, the SAFE price showed a breakout with a sharp price increase. The price crossed the $1 mark with a substantial rise in trading volume. It was trading at $1.66 at press time, with an intraday rise of over 21.20%.

The Relative Strength Index (RSI) curve spiked to the overbought zone, indicating heightened buying pressure. A golden crossover was observed as the 50-day EMA line crossed above the 100-day EMA, hinting at a further bullish rally.

With a market cap of $769.35 Million, altcoin ranked 86th among the top 100 crypto coins. Considering this bullish scenario, the SAFE crypto price could continue increasing and hit the $2 mark this week.

If the bullish sentiment persists, the altcoin will soon rally towards its ATH level of $4.01. Moreover, the SAFE price has reached the highest point of the upper Bollinger band and encountered massive buying momentum.

According to the Fib levels, the altcoin had crossed the 50% zone and was eyeing to break the 61.8% region, close to $2.20. Notably, the development activity also surged, indicating growth in the ecosystem.

Recently, the curve showed a reversal sign and surged vertically, reaching around 166 at press time. With the growing optimism, market participants opened substantial long positions after the news spread of the exchange listing.

The Open Interest (OI) rose over 14.89% to $18.66 Million, indicating a sustained buildup activity over the past 24 hours. The immediate support zones for SAFE were $1.50 and $1.38, while the upside hurdles were $1.80 and $2.10.