SafeMoon price has shown an affinity to climb higher, which has led to a breach through a resistance barrier. This ascent indicates that SAFEMOON is likely to head toward the midpoint of the range.
SafeMoon price set up a range low at $0.00000257 on June 22 and has rallied roughly 20% over the past eight hours to set up a new swing high at $0.00000315. This leg up sliced through a critical resistance level at $0.00000295, flipping it to support, further confirming the resurgence of buyers.
Looking at an hourly chart of the Ethereum price action against the dollar, it has been a crazy 48 hours this week with a very nice recovery from the lows. But this rally has some more room to go.
ETH enter this morning in a phase of consolidation. If we look at both trend lines converging toward each other, we can see that the ascending trend line has had more tests, and buyers came in quicker to support Ethereum price. The appetite and interest are there from buyers.
Tezos price is going higher due to general risk-on sentiment, Bitcoin recovery and technical indicators.
Markets today are back to risk-on mode and are shrugging off the bearishness. Bitcoin has already almost completely reversed its dip, and other cryptocurrencies are surfing on the recovery wave in the markets right now.