According to recent forecasts, the price of SafeMoon could rise in the near future, but only to a limited extent.
It is worth mentioning that the price has been falling for about a month and a half now.
Taking 24 May as a reference, i.e. after the collapse that took it to 270 millionths of a dollar, the price has fallen from 500 millionths to its current level of around 300 millionths, a loss of 40% in about six weeks.
The all-time high of more than 1,000 millionths of a dollar, which was only reached on 11 May, seems a long way off, and even the forecasts seem to indicate that it may be very difficult to reach it again in the short term.
SafeMoon price predictions
According to FXStreet‘s Akash Girimath, the outlook is that it could appreciate 26%, reaching 374 millionths of a dollar.
It recently bounced off support at 290 millionths, but has since failed to take off again. The rapid recovery is a show of strength, suggesting that further growth is likely.
The next resistance to watch out for is the 338m mark, and if it manages to break through that, the next resistance will be around 374m.
It should be noted, however, that Girimath himself also suggests a possible bearish scenario, should it fall below 271 millionths again.
In addition, a previous prediction by Filip L., also of FXStreet, suggested that there are many factors that would indicate a decline.
Filip suggests a retest of the double low at 259 millionths of a dollar due to profit-taking and points to a series of resistances in the range between 300 and 350 millionths.
In the light of these considerations, 440 millionths of a dollar is the possible maximum level that can be reached, which is still much lower than the peak in May.
However, these are short-term forecasts, which do not indicate where SafeMoon could be positioned in the medium or long term. Given that this is a project about which many people have doubts, it is probably better to focus on short-term movements at this stage, given the very high level of uncertainty regarding the real future developments of this project.
