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The Safe price has surged by 75% over the past week to trade at $1.64 as of 3:20 a.m. EST on trading volume that soared 270% to $108 million.
SAFE currently ranks as the top weekly gainer among the leading 100 cryptocurrencies by market capitalization.
The SAFE price surge follows its listing on Upbit, South Korea’s leading crypto exchange. Now, many in the market are speculating whether the token can sustain its bullish momentum.
KOREAN EXCHANGES ARE PUMPING CRYPTO
Upbit launched @safe trading with pairs: $KRW, $BTC, $USDT
Bithumb has added @BuildOnBeam and @bounce_finance' tradings pairs for the korean won$SAFE is up 66%, $AUCTION is up 3%, and $BEAM is up 2% following the announcement. pic.twitter.com/q2OfTNad0E
— Satoshi Club (@esatoshiclub) October 24, 2024
Safe Price Bullish Crossover And Rounded Bottom Signal Potential Uptrend
The chart for the Safe/USDT pair in a 30-minute timeframe shows that the token is trading at $1.5636, reflecting a 4.38% decrease. A significant price surge occurred earlier, with a sharp spike lifting the price from around $1.00 to $1.63.
After the spike, a rounded bottom pattern developed, typically a bullish continuation signal indicating consolidation before a potential upward movement.
The moving averages reveal a bullish crossover. Around the time of the price spike, the 50-period moving average (currently at $1.4572) crossed above the 200-period moving average, signalling growing upward momentum. This 50-period moving average now acts as support beneath the current price level.
SAFEUSD Analysis Source: Tradingview
Additionally, the RSI shows a value of 54.12, which places it in neutral territory, suggesting no strong overbought or oversold conditions at present. Earlier, the RSI reached 69.66 during the spike, approaching overbought levels before the Safe price retraced slightly.
Generally, the combination of the moving average cross, the rounded bottom pattern, and the neutral RSI points to a potential continuation of bullish momentum, provided the price maintains support around the $1.4572 mark. It can break above the immediate resistance at $1.6297.
Crypto All-Stars Heads For $3 Million: Best Crypto To Buy Now?
As Safe price traders anticipate a further bullish surge, the new Crypto All Stars (STARS) presale has stormed past $2.7 million in funds raised.
According to the 99Bitcoins YouTube channel, which has more than 706k subscribers, STARS is among the top 3 crypto presales right now with the potential to 10x after launch.
Crypto All-Stars (STARS) is a unique meme coin project that gives investors the opportunity to stake multiple top meme coins on the same platform for the first time.
It does that via its innovative MemeVault protocol, which will from the token’s launch enable staking of DOGE, SHIB, PEPE, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO. The team plans to add more staking options in the coming weeks.
By locking up any of these tokens on the Crypto All-Stars platform, investors will earn rewards paid out in STARS tokens.
While you kick back in your hammock, remember that the MemeVault will be launching soon!🌟 pic.twitter.com/bqJU4oTmVT
— Crypto All-Stars (@all_stars_coin) October 18, 2024
STARS tokens themselves can also be staked, and offer a dazzling 565% in annual rewards.
Investors interested in getting in early on STARS can buy it for $0.0015248 using tokens including ETH, BNB, USDT, DOGE, FLOKI, PEPE, or SHIB.
If you are interested to join the project, buy before a price hike in less than 3 days.
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