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SafeMoon and Litecoin: SafeMoon remains under pressure
- For the fifth time in a row, the price of SafeMoon is moving in the same range of 0.00002100-0.00002450
- On Monday, the Litecoin price retreated to the $62.59 level, forming a new low there
SafeMoon chart analysis
For the fifth time in a row, the price of SafeMoon is moving in the same range of 0.00002100-0.00002450. This morning, the price had an attempt to hold above the EMA 50 moving average and 0.00002300. Unfortunately, a bearish impulse followed, and we saw the price drop to the 0.00002130 support level. We are now holding at 0.00002200 but remain under bearish pressure. This could produce a new downward impulse and form a new daily low.
Potential lower targets are the 0.00002000 and 0.00001800 levels. For a bullish option, we need a positive consolidation and a return above the EMA 50 and 0.00002370 daily open price. With that step, we are moving to the bullish side, and the chances of starting a further recovery to the bullish side are increasing. Potential higher targets are the 0.00002400 and 0.00002600 levels.
Litecoin chart analysis
On Monday, the Litecoin price retreated to the $62.59 level, forming a new low there. After that, we saw some price stabilization in that zone, the initiation of a bullish consolidation above $64.00, and the EMA 200 moving average. There, we formed a new bottom and continued with bullish consolidation above the $65.00 level. In this morning’s hours, Litecoin rose to $66.35, a new weekly high.
For now, the price does not have enough momentum to continue above; therefore, we see a pullback to the $65.50 support level. This level manages to keep us above and push us again above the $66.00 level. Now, the chances are increasing that we will continue on the bullish side and that Litecoin will climb to a new daily high. Potential higher targets are $66.50 and $67.00 levels.
The post SafeMoon and Litecoin: SafeMoon remains under pressure appeared first on FinanceBrokerage.
