The Downtrend Of SAFE Price Continues

SAFE protocol has a market cap of $755 Million and is ranked 106th in the cryptoverse. It has a VM ratio of 0.02 whereas the volume has surged by 16% in the last 24 hours. SAFE token price is currently trading near the value of $1.76 with a drop of 5% in the intraday session.
The asset price is currently in a strong bearish trend on the daily chart. It is trading below the 50 and 100 EMA on the 4 hour chart. The upside momentum of the asset price can see a halt near the value of $2. Meanwhile, the support of the SAFE token price can be seen near $1.5.
The RSI of SAFE token in the 4 hour chart is at 23 with a strong negative slope. The overall sentiment of the indicator is bearish in nature.