SafeMoon and Litecoin: Litecoin rises above 77.00 level
- SafeMoon’s price bounced yesterday, making a jump to the 0.00005200 level.
- The price of Litecoin came in yesterday to make a break above 75.00, forming a new high at the 77.31 level.
SafeMoon chart analysis
SafeMoon’s price bounced yesterday, making a jump to the 0.00005200 level. We were briefly above the EMA50 moving average, as a new pullback to support at the 0.00004600 level followed. We are currently still below the EMA50, and the price remains under pressure but is holding above the 0.00004600 level. A break below is needed as we would see a continuation of the previous bearish consolidation. Potential lower targets are the 0.00004400 and 0.00004420 levels.
We need to go back above the 0.00005000 level for a bullish option. Then we need to hold up there because we would get the EMA50 moving average floor. It would have a positive effect if we see a recovery and an increase in the price of SafeMoon. Potential higher targets are the 0.00005200 and 0.00005400 levels.
Litecoin chart analysis
The price of Litecoin came in yesterday to make a break above 75.00, forming a new high at the 77.31 level. We are encountering resistance in that zone, and the price has retreated to support at the 75.00 level. Resistance becomes support, and we are moving into a bullish consolidation that takes us above the 77.00 level. Potential higher targets are 77.50 and 78.00 levels.
We need a negative consolidation and pullback below the 75.00 level for a bearish option. Then, we would have to stay there below to get confirmation of bearish pressure. After that, we can expect to see a pullback and price drop to lower levels. Potential lower targets are 74.50 and 74.00 levels. EMA50 moving average is in the zone around 73.50 levels.
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