Decisive Week for SafeMoon & Litecoin’s Year-End Trends
- The mild bearish consolidation of SafeMoon’s price continued today.
- The price of Litecoin continues the bearish consolidation from the beginning of the week, retreating to the 70.11 level.
SafeMoon chart analysis
The mild bearish consolidation of SafeMoon’s price continued today. This morning’s low was at the 0.00006300 level, where we are getting support. After that, we saw a bullish consolidation to resistance at the 0.00007000 level. New resistance is triggering a price pullback from there, and it is now on its way to this morning’s support. A break below would lead to the formation of a new low, and thus, we would receive a confirmation of the bearish continuation and fall in the price of SafeMoon.
The next important level is 0.00006000 and additional support in the EMA50 moving average. Potential lower targets are the 0.00005800 and 0.00005600 levels. We need to get back above the 0.00007000 level for a bullish option. Then, we need to hold around and form a new bottom there. The next positive consolidation would trigger the continuation of the recovery and climb to higher levels. Potential higher targets are the 0.00007200 and 0.00004700 levels.
Litecoin chart analysis
The price of Litecoin continues the bearish consolidation from the beginning of the week, retreating to the 70.11 level. Obviously, the 70.00 level will provide some support, or we will consolidate around it before we see a concrete move up or down. After this morning’s support, the price recovered to 71.50, meeting resistance. The inability to continue up, would lead to bearish consolidation and withdrawal with a target to a new low.
Potential lower targets are 69.50 and 69.00 levels. We need to get back above the 72.00 level for a bullish option. Then, hold above and form a new bottom there. After that, we expect to see an impulse that would trigger a Litecoin price recovery. Potential higher targets are 73.00 and 74.00 levels.
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