SafePal Price Prediction 2021 – Will SFP Hit $3 Soon?

This SafePal (SFP) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SFP price analysis and prediction.

Among the cryptocurrencies that are rallying this year, SFP is perhaps one of the most surprising for some. It is not directly related to crypto king Bitcoin (BTC), nor is it the most hyped cryptocurrency today. But for those that are aware, SFP has been around since 2018.

Can SFP reach $3 in 2021? We will find out shortly. But before we proceed to our SFP analysis, let us first answer the question “What is SafePal (SFP)?” in this SFP prediction 2021 article.

What is SafePal (SFP)?

SafePal is a digital asset wallet launched in 2018 which helps users to protect and grow their cryptocurrencies. Moreover, SafePal offers hardware and software wallets, all paired and managed via the SafePal App. Moreover, it is the first hardware wallet invested in and backed by Binance.

In addition, SafePal wallet supports many popular digital assets, in addition to popular tokens on the Ethereum, Binance Smart Chain (BSC), and TRON blockchains. However, users can store, manage, swap, trade, and grow their portfolio without compromising asset security, as per  SafePal.

Since its launch in 2018, SafePal has increased exponentially and has more than 80,000 users in 87 countries globally. More information could be found in the SafePal Media kit.

Now that we are clear about SFP do you think SFP will be beneficial crypto in 2021? Join me and let us see the charts in this SFP price analysis and SFP price prediction.

SafePal (SFP) Current Market Status

As of the time of writing this SFP price analysis, SFP trades at $0.72 with a 24-hour trading volume of $9,826,248. The price of SFP has increased by 3.24% in the last 24 hours.

Furthermore, SFP has a current circulating supply of 1108,166,667.00 SFP. Currently, the top cryptocurrency exchanges for SFP are Binance, CoinTiger, HitBTC, Hoo, and Gate.io.

Now, let’s proceed to the next part of this SFP technical analysis for 2021.

• SafePal (SFP) Price Analysis

Currently, SFP holds 325th place on CoinMarketCap. But will the latest upgrades, development, and changes in the SFP blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this SFP price prediction article.

In the chart above, which is set in a daily time frame, we can see the Descending Triangle pattern. This is an important indicator since SFP has been showing bearish over the past month. Consequently, the descending triangle pattern indicates that SFP will finally go bearish.

In the foreseeable future, we can say that SFP has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, SFP turned from its bear to bull trend. This is the result of the huge trade volume that occurred in that period.

The Relative Strength Index (RSI) is above 41.82, which means that SFP is in a nearly oversold state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of SFP

Since the start of 2021, SFP’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, SFP has a competitive market this 2021.

SafePal (SFP) Price Prediction

The chart below shows that SFP has performed great over the past few days. Moreover, the SFP price shows a bullish trend. If this trend continues, SFP might run along with the bulls, overtaking its $3 resistance level and move higher.

Conversely, if the investors turn towards the crypto, the bears might take over and push SFP from its uptrend position. In simpler terms, the price of SFP might plummet to almost $0.6, a bearish signal.

Meanwhile, our long-term SFP price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.

Conclusion

SFP has a bright future ahead of it in 2021. With the ongoing developments happening within the SFP ecosystem, as well as in the overall crypto market, we may see SFP reach new heights.

Bullish SFP price prediction 2021 is $3. As said above, it may even reach its new ATH if investors have decided that SFP is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Source: https://coinquora.com/safepal-sfp-price-prediction/