This upcoming event could crush SafeMoon price

  • SafeMoon price is set to continue its descent and break below a fundamental Fibonacci level.
  • SFM price could see additional headwinds from the Fed Interest Rate decision on Wednesday.
  • Expect to see a possible drop below $0.000300000.

SafeMoon (SFM) price is set to drop further after the market has tried to push against the current downtrend since last week. Unfortunately, a bounce off $0.000342750 was not enough and looked set to get another retest on the back of a significant catalyst this evening. That could be either the outcome of the emergency meeting from the ECB that got announced in early European morning trading or on the back of the Federal Reserve rate hike decision where polls are pointing to 75 basis points or even 100bp hikes to come. 

With all these events, markets are tightening, which means less expendable money to put at work in cryptocurrencies, with SafeMoon set to make another leg lower below $0.000300000.

SFM price set to tank 30%

SafeMoon price enters a danger zone on Wednesday with not one but several very sensitive headline risk events that could bring more downside to the price action. The first main headline risk event…

Read more at www.fxstreet.com

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