- A rebound is seen in the SFP price chart from the 200-Day EMA mark.
- Technical indicators hint at the possibility of a bounce to $0.8000.
The SafePal (SFP) token has shown volatile movements and is currently fluctuating near the 20-Day EMA mark. This indicates buyer accumulation and a pullback from the 200-Day EMA mark in previous sessions. The token has been able to sustain gains, forming a double top pattern on the charts.
Currently, the SafePal (SFP) price is trading at $0.7907 with a 6.78% intraday gain, showing bullishness. It has a monthly return rate of 2.10% and a yearly return rate of 76.89%. The SFP/BTC pairing is at 0.0000112 BTC with a market cap of $395.44 million. Analysts are optimistic, suggesting that the SFP price might continue its upward trend and retest the supply zone of $0.8600 soon.
SFP Price To Volume Profile Reveals Volatile Moves
The SafePal price (SFP) has revealed a double top formation and pump-and-dump movements on the charts. This week, the token has rebounded over 22% and maintained the 20-Day EMA mark, showing bullish accumulation. Trading volume remained average, bouncing by 2.89% to $6.46 million.
Price Volatility and Sentiment Neutrality
After the price rebound, the token exhibited volatile movements with increased volatility data to 3.35%, signaling neutrality. Weighted sentiment remained neutral, hovering close to the midline near -0.344, indicating negative investor sentiment.
Social Dominance and Twitter Followers Analysis
According to Santiment data, social dominance for the token decreased to 0.039%, showing a decline in investor interest. However, X follower data recorded a significant increase to 22.8k.
Total Holders and Active Addresses Overview
The total number of holders continued to rise, reaching 166, while the number of active addresses stood at 1113.
Despite market sentiment being neutral, the SFP token has surged over 25% this month. Till the $0.8500 mark is breached, the trend will likely remain neutral, with price consolidation expected in upcoming sessions.
Fibonacci levels show that the token has held above the 23.6% level and is aiming for the 38.2% zone. The RSI curve is close to the midline, forming a positive divergence indicating a bullish trend ahead. The MACD indicator displays a bullish crossover, suggesting bull accumulation.
The total supply of the SFP token is 500 million with a volume to market cap ratio of 0.0164.
Summary
The SafePal token price has experienced fluctuations and retested the 200-Day EMA mark. Despite this, bulls managed to hold the region, resulting in a pullback on the charts.
Technical Levels
Support Levels: $0.004300 and $0.004000
Resistance Levels: $0.005000 and $0.005200
Disclaimer
The opinions and views expressed by the author or any other party mentioned in this article are for informational purposes only and should not be considered financial or investment advice.
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