SafePal (SFP) Price Prediction 2023 — Will SFP Hit $0.5 Soon?
- Bullish SafePal price prediction is $0.4725 to $1.3156.
- SafePal (SFP) price might also reach $0.5 soon.
- Bearish SafePal price prediction for 2023 is $0.2892.
In SafePal (SFP) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about SafePal to analyze the future movement of the cryptocurrency.
SafePal (SFP) Current Market Status
| Current Price | $0.384962 |
| 24 – hour trading volume | $3,253,079 |
| 24 – hour price change | 0.9% Down |
| Circulating supply | 322,350,000 |
| All – Time High | $4.19 (On February 08, 2021) |
What is SafePal (SFP)?
The SafePal (SFP) token is a decentralized digital asset built on the Binance Smart Chain with a total supply of 500 million tokens. SafePal, which was founded in 2018, is a secure and robust cryptocurrency wallet that assists customers in protecting and growing their decentralized assets. It is also the first hardware wallet in which Binance has invested and is supported.
SafePal (SFP) Price Prediction 2023
SafePal (SFP) holds the 175th position on CoinGecko right now. Thus, SafePal price prediction 2022 is explained below with a daily time frame.
The above chart of SafePal (SFP) laid out a Descending Triangle pattern. This pattern is often regarded as a characteristic of a bearish trend. It is formed by the upper trend line that connects the highs and a horizontal trend line connecting lows converges to form a triangle. If the price action breaches the lower support level, the bearish trend would be sustained. Generally, descending triangle pattern indicates the reversal of an uptrend or the continuation of the downtrend. Traders keenly look out for a significant breakout point.
Currently, SafePal (SFP) is in the range of $0.3897 If the pattern continues, the price of SafePal might reach the resistance levels of $0.3931, $0.4246 and $0.4453. If the trend reverses, then the price of SafePal may fall to $0.3726.
SafePal (SFP) Support and Resistance Levels
The chart below shows the support and resistance levels of SafePal (SFP).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels for SafePal (SFP).
| Resistance Level 1 | $0.4725 |
| Resistance Level 2 | $0.7802 |
| Resistance Level 3 | $1.3156 |
| Support Level | $0.2892 |
The charts show that SafePal (SFP) has performed a bullish trend over the past month. If this trend continues, SafePal might run along with the bulls overtaking its resistance level at $1.3156.
Accordingly, if the investors turn against crypto, the price of SafePal (SFP) might plummet to almost $0.2892, a bearish signal.
SafePal (SFP) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of SafePal (SFP) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of SafePal lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of SafePal (SFP) is shown in the chart above. Notably, SafePal (SFP) price lies below 50 MA (short-term), so it is in a downtrend. Currently, SafePal has entered a bearish state. Therefore, there is a possibility of a reversal trend of SafePal at any time.
Meanwhile, the relative strength index (RSI) of SafePal is 41.92. This means that SafePal (SFP) is a nearly oversold state. However, this means a major price reversal of SafePal may occur in the upcoming days. So, traders need to trade carefully.
SafePal (SFP) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of SafePal (SFP). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of SafePal (SFP). Currently, the ADX of SafePal lies in the range of 18.8348 and thus, it indicates a weak trend.
The above chart also represents the Relative Volatility Index (RVI) of SafePal (SFP). RVI measures the constant deviation of price changes over a period of time. The RVI of SafePal lies below 50, indicating low volatility. In fact, the RSI of SafePal (SFP) is at 41.92 thus confirming a potential buy signal.
Comparison of SafePal with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and SafePal (SFP).
From the above chart, it can be interpreted that ETH, BTC, and SFP are not moving in a similar trend. This indicates that when the price of BTC and ETH increases or decreases, the price of SFP also increases or decreases respectively.
SafePal (SFP) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, SafePal (SFP) might probably attain $1 by 2024.
SafePal (SFP) Price Prediction 2025
With several upgrades in the network, SafePal (SFP) might enter a bullish trajectory. If the coin grabs the attention of major investors, SafePal might rally to hit $3 by 2025.
SafePal (SFP) Price Prediction 2026
If SafePal (SFP) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, SafePal would rally to hit $5
SafePal (SFP) Price Prediction 2027
If SafePal (SFP) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, SafePal would rally to hit $7
SafePal (SFP) Price Prediction 2028
If SafePal (SFP) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, SafePal would rally to hit $9
SafePal (SFP) Price Prediction 2029
If SafePal (SFP) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, SafePal would hit $11 in 2029.
SafePal (SFP) Price Prediction 2030
If investors flock in and continue to place their bets on SafePal (SFP), it would witness major spikes. SafePal might hit $13 by 2030.
Conclusion
With continuous improvements in the SafePal network, we can say that 2023 is a good year for SafePal. For this reason, the bullish price prediction of SafePal (SFP) in 2023 is $1.3156 On the other hand, the bearish price prediction of SafePal (SFP) for 2022 is $1.3156.
Furthermore, with the advancements and upgrades to the SafePal ecosystem, the performance of SafePal would help to reach above its current all-time high (ATH) of $4.19 very soon. But, it might also reach $0.5 if the investors believe that SafePal is a good investment in 2023.
FAQ
The SafePal (SFP) token is a decentralized digital asset built on the Binance Smart Chain which was founded in 2018. It is a secure and robust cryptocurrency wallet that assists customers in protecting and growing their decentralized assets.
SafePal (SFP) has been listed on many crypto exchanges which include Binance, KuCoin, Gate.io, Bitget, LBank.
With the ongoing developments and upgrades within the SafePal platform, SafePal has a high possibility of reaching its ATH soon.
On February 09, 2021 SafePal (SFP) reached its new all-time high (ATH) of $4.19.
SafePal (SFP) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of SafePal in the past few months, SafePal is considered a good investment in 2023.
SafePal (SFP) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then SafePal (SFP) will hit $0.5 soon.
SafePal (SFP) price is expected to reach $5 by 2024.
SafePal (SFP) price is expected to reach $8 by 2025.
SafePal (SFP) price is expected to reach $11 by 2026.
SafePal (SFP) price is expected to reach $13 by 2027.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Read more: https://thenewscrypto.com/safepal-sfp-price-prediction-2022-will-sfp-hit-0-5-soon/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
