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- 1 SFP price chart showcases a rebound from the 200-Day EMA mark.
- 2 Technical indicators are suggesting a possible bounce to $0.8000.
The SFP price (SafePal) token showcased volatile moves and is fluctuating near the 20-Day EMA mark. The price action revealed the buyer accumulation and reflecting buy on dips scenario and the token reflected a pullback from the 200-Day EMA mark in the past sessions. Moreover, the token has decisively sustaining gains, and is forming a double top pattern on the charts.
At press time, the SafePal (SFP) price was trading at $0.7907 with an intraday gain of 6.78%, reflecting bullishness on the charts. It has a monthly return ratio of 2.10% and 76.89% on a yearly basis. The pair of SFP/BTC is at 0.0000112 BTC, and the market cap is $395.44 Million. Analysts are bullish and suggest that SFP price may continue to extend the gains and may retest the supply zone of $0.8600 soon.
SFP Price To Volume Profile Reveal Volatile Moves
The Safepal price (SFP) revealed double top formation and reflected pump and dump movements on the charts. This week, the token has noted a notable rebound over 22% and retained the 20-Day EMA mark showcased bullish accumulation. The trading volume remained average and bounced by 2.89% to $6.46 Million.
Price Volatility and Sentiment Glimpse Neutrality
Following the price rebound, the token has showcased volatile moves and the volatility data increased over 3.35% to 0.016, revealed neutrality. Moreover, the weighted sentiment remained neutral and the value remained close to the midline near -0.344 signifying the negative sentiment among the investors.
Social Dominance and Twitter Followers Outlook
Per the Santiment data, the token has displayed a steep decline in the social dominance, and the value slipped to 0.039%, signifying a decline in investor interest. However, the X follower data reflected a sharp surge and the value rose to 22.8k.
What Does Total Amount Of Holders and Active Addresses Indicate?
The above data shows that the total number of holders persisted in increasing and the value rose to 166, whereas the active addresses were noted at 1113.
Amidst the neutral market sentiments, the SFP token has remained in the narrow range and has surged over 25% this month. Until the $0.8500 mark was not exceeded, the trend remained neutral with price consolidation anticipated in the next few sessions.
Per the Fib levels, the token has sustained above the 23.6% level and is eyeing the 38.2% zone, whereas the RSI curve stayed near the midline and is forming a positive divergence suggests a bullish trend ahead. However, the MACD indicator shows a bullish crossover and indicates bull accumulation.
The total supply of the SFP token is 500 million and the volume to market cap ratio is 0.0164.
Summary
The SafePal token price has reflected ups and down movements and retested the 200-Day EMA mark. However, the bulls have succeeded in holding the region and a pullback was witnessed on the charts.
Technical Levels
Support Levels: $0.004300 and $0.004000
Resistance Levels: $0.005000 and $0.005200
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
