Safe (SAFE) Surges 100%: Is a Move to $2.50 on the Horizon?

Safe has been moving fast and traders are paying attention because it’s a smart account platform with over $100B in assets and 200+ projects in DeFi.

he'll be safe even with 100 foot storm surges

— quez.eth (@0xQuez) October 9, 2024

Price Jumps 21% in 24 Hours: Key Levels to Watch

As of October 25, 2024, Safe (SAFE) is $1.63 with $289.9 million in 24 hour volume. Safe is up 21.45% in the last 24 hours and 70% in the last week and is now #88 on CoinMarketCap with a market cap of $756.7 million and 463,757,969 SAFE coins in circulation.

Technically Safe is still looking bullish even though it’s overbought according to RSI of 79.75. Price is testing the 0.382 Fibonacci level at $1.77 which is immediate resistance. A break above this level could mean more upside with next targets at 0.5 level at $2.12 and 0.618 level at $2.48.

On the downside, support is at $1.33 (0.236 Fibonacci). A break below this level could mean more corrections with next support at $1.10. 50 day EMA is at $0.94 which is a key pivot and foundation of the current uptrend.

Safe is still looking bullish as long as it holds above key support levels. But traders should be careful as RSI is overbought and if momentum fade.

Safe’s Future: What’s Next?

Safe’s price is going up at the same time DeFi projects are getting more popular. As one of the main players in the smart account platform space Safe is well positioned to benefit from the growing DeFi ecosystem.

With Binance Futures now offering leveraged SAFEUSDT contracts more traders will participate, add liquidity and volatility to the asset.

Looking forward Safe will need to break through $1.77, $2.12 and $2.48 to maintain the bullish momentum. If Safe can do that the price will go up and traders will have a lot of upside.

But be careful with the overbought RSI and short term corrections. If selling pressure comes Safe could go back to $1.33 and $1.10 before resuming the up trend.

Key Insights:

• Safe has surged nearly 100% in the past week, with a current price of $1.63, up 21.45% in the last 24 hours.

• Immediate resistance is at $1.77, with potential to reach $2.12 and $2.48 if momentum holds.

• RSI at 79.75 indicates overbought conditions, but Safe’s bullish trend remains strong.

Conclusion

Safe is one of the most watched tokens in DeFi space and still looks bullish even with overbought RSI. Watch for a break above $1.77 and the price will go to $2.12 and $2.48.

But be careful, if the momentum fails the price will go back to $1.33 or lower.

Safe’s ecosystem is growing and integrated with Binance trading platform, it’s a token with big potential but also more volatility in the short term.