SafeMoon and Litecoin: Litecoin slipped below 70.00 level
- The price of SafeMoon continues to move in the support zone.
- The price of Litecoin is in a bearish trend for five days in a row.
SafeMoon chart analysis
The price of SafeMoon continues to move in the support zone. Yesterday, we saw a drop to 0.00004215 levels. We get support at that level and recover to 0.00004400 level. Today, we are looking at a move in the 0.00004250-0.00004400 range. Most of the movement occurs near the upper line, meaning that a breakout above is near. The next target is the 0.00004500 level. By jumping to that level, we would move above the EMA200 moving average.
A stop above would have a good chance of triggering a further recovery to higher levels. Potential higher targets are the 0.00004600 and 0.00004700 levels. We need a pullback to the 0.00004200 support level for a bearish option. A drop below is a sure sign that we are continuing in that direction. Potential lower targets are the 0.00004100 and 0.00004000 levels.
Litecoin chart analysis
The price of Litecoin is in a bearish trend for five days in a row. On Friday, the price was at the 77.10 level; last night, we saw it at the 68.72 level. Today, we are looking at an attempt to recover, but we are stopping at the 70.00 level with additional resistance in the EMA200 moving average. Litecoin is turning bearish again and could easily slide to a new low. Potential lower targets are 68.00 and 67.00 levels.
We need a positive consolidation and a jump to the 71.00 level for a bullish option. So we would be back above the EMA200, and there would be room for consolidation above that. A new bottom would be formed from which we could start a further recovery on the bullish side. Potential higher targets are 72.00 and 73.00 levels.
The post SafeMoon and Litecoin: Litecoin slipped below 70.00 level appeared first on FinanceBrokerage.
