At the time of writing, Safemoon was flat at $0.0000033.
A mixed morning saw Safemoon rise to an early morning high $0.0000036 before hitting reverse.
Falling short of the first major resistance level at $0.0000037, Safemoon slid to a mid-day low $0.00000311.
The reversal saw Safemoon test the first major support level at $0.0000031 before a recovery to $0.0000033 levels.
For the Afternoon Ahead
Safemoon would need to move back through the $0.0000034 pivot to bring the first major resistance level at $0.0000037 back into play.
Plenty of support would be needed, however, for Safemoon to breakout from this morning’s high $0.0000036.
Barring an extended crypto rally through the afternoon, the first major resistance level at $0.0000037 would likely cap the upside.
In the event of another extended rally through the afternoon, Safemoon could test the second major resistance level at $0.0000040.
Failure to move back through the $0.0000034 pivot would bring the first major support level at $0.0000031 back into play.
Barring an extended sell-off through the afternoon, however, Ethereum should steer clear of sub-$0.0000030 levels.
The second major support level sits at $0.0000028.
Looking beyond the support and resistance levels, we saw a bearish cross this morning. The 50 moving average crossed through the 100 pressuring Safemoon early on.
Through the 2nd half of the day, a further pullback of the 50 MA from the 100 would bring support levels back into play.
For the bulls, a move back through the $0.0000034 pivot would be needed to bring $0.0000040 levels into play, however.
