SafeMoon will grow 80%, while Ethereum breaks the R$20,000 By CryptoFácil


Analyst opines: SafeMoon will grow 80% while Ethereum breaks the R$ 20,000

In the last 24 hours, as much as have seen their prices fall between 6% and 8%. However, these moves may just be a healthy correction that will increase by 30% to over R$20,000 and Safemoon by about 80% to R$0.000020.

Both optimistic projections are from cryptocurrency analyst Akash Girimath.

Ethereum at $4,000

According to the analyst, the increase registered by Ether between July 20 and August 12 was relatively greater than that of .

However, right now, when it is priced at $3,043 (BRL 16,000) altcoin faces significant resistance.

According to Girimath, the supply area, which ranges from US$ 3,240 to US$ 3,533, needs to be surpassed so that the “buying forces”, or bulls, have a chance to rise.

“Perhaps a large increase in buying pressure similar to that seen around 20 July would be able to break this area of ​​resistance and push the ETH higher,” he said.

If this breakout move occurs, the price of Ethereum will likely hit $3,716. Then it can surpass the psychological level of $4,000.

In this case, the Ethereum would cost R$ 20,950, with an increase of around 30% compared to the current position.

However, if ETH does not breach the supply zone, it could drop below $3,000, delaying recovery.

SafeMoon at $0.00000378

As for SafeMoon, Girimath noted that the token has been in a downtrend since May 21st. In this period, the chart has formed a descending wedge pattern, which is an optimistic configuration.

On May 11th, SafeMoon hit its all-time price high at $0.00001094. Since then, it has retreated more than 82% to current $0.00000189.

In addition, the chart has formed a series of lower lows, the analyst says. However, the May 20th price action set 3 lower highs and 7 lower lows.

“Connecting these wobble points using trendlines results in a descending wedge pattern. This technical formation predicts a 77% rise, obtained by measuring the distance between the first high and low oscillation and adding it to the breakout point”, he detailed.

Based on these projections and the August 6th high ($0.00000268), SafeMoon is expected to reach $0.00000378. In other words, approximately R$ 0.000020, quoted in reais.

Prior to that, the cryptoactive price may retest intermediate resistance levels at $0.00000264, $0.00000316 and $0.00000346.

By Easy Crypt