SafePal Price Analysis: Will SFP again Showcase its Potential?


  • SFP rose 12.81% in seven days.
  • SFP/USD pair trading above EMA(20).
  • SFP’s intraday volume stands at $8,707,151.00.
  • SFP down approximately -1.18% within the last 24 hours.

03 May 2024 : In this article we will walk you through SafePal price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for SafePal, Is SFP a good investment? SafePal support & resistance levels etc. But before diving deep into the SFP technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,211,755,344,152. The total trading volume stands at $70,427,280,641. Bitcoin shares 52.87 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $59,380.72 level after an upward movement of 2.94%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.39 percent reaching to $2,982.72 during the previous 24 hours.
While publishing this blog, BNB traded at $566.79, following a price change of 2.17% within the same time frame. SOL the native coin of Solana is up by 3.98 and currently trading at $138.38. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

SafePal Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of SafePal (SFP)

SFP Resistance Levels SFP Support Levels
Resistance Level 1 $0.40 Support Level 1 $0.34
Resistance Level 2 $0.42 Support Level 2 $0.31
Resistance Level 3 $0.45 Support Level 3 $0.29

SafePal Performance

According to Price Analysis Market Index, SafePal (SFP) is trading at $0.72 with a trading volume of $8,707,151.00. However,SFP has a price decline of -1.18% in the last 24 hours.SFP price changes 12.81% over the week with a total market capitalization of $301,660,596.00 USD.

SafePal Price Analysis

SFP price analysis for 03 May 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the SafePal.

Moving Averages Price Indicator
Simple Moving Average (10) 0.37 Buy
Exponential Moving Average (10) 0.37 Buy
Simple Moving Average (20) 0.37 Buy
Exponential Moving Average (20) 0.37 Buy
Simple Moving Average (50) 0.37 Buy
Exponential Moving Average (50) 0.37 Buy

While SFP’s Williams %R indicator is at -28.571 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The SFP/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. RSI implying near overbought phase while trading at 53 and is trying to break out of the neutrality zone.

Conclusions

According to the SafePal (SFP) price analysis, the bears have failed to take the market downwards, and as a result, we are likely to see the continuation of the bullish trend in the coming days.