Bitcoin, Cardano and SafeMoon – European Wrap 31 May

Bitcoin price seems to have triggered a relief rally that is going to revisit significant levels, formerly critical in catalyzing the sell-off. Some altcoins have already started their run-ups, but for Ethereum and Ripple a minor retracement seems likely before they start their upswings.

Cardano price has managed to make an explosive run higher over the last four days as Bitcoin bulls make a comeback. This impressive upswing looks now to be preparing for another leg up.

ADA/USDT 1-day chart

SafeMoon (SAFEMOON) price is set to open another can of potential gains and price appreciation as two major technical elements are seen unfolding in the coming trading sessions. The negative close on Monday could turn into a bear trap, as the break to the downside looks fake. Add to that the fact a golden cross may be forming as the 21-day Simple Moving Average (SMA) crosses above the 55-day SMA and it gives  a significant bullish signal for traders, suggesting Safemoon price may be on the cusp of a massive long-term uptrend that could lift it back to $0.001800000.


SAFEMOON/USD daily chart