SafeMoon and Litecoin: LItecoin is back around 70.00 level
- The price of SafeMoon continues to slide to the support zone today.
- The price of Litecoin manages to break away from the bearish embrace slowly.
SafeMoon chart analysis
The price of SafeMoon continues to slide to the support zone today. We are currently at 0.00004256 and approaching yesterday’s low at 0.00004215. New pressure in the support zone could lead to a breakout below and the formation of a new weekly low. Potential lower targets are the 0.00004150 and 0.00004100 levels.
We need a new positive consolidation and a move above the 0.00004350 level for a bullish option. A new bottom would be formed there, and we would try to stay on it. With the next impulse, we would initiate a reversal to the bullish side. Potential higher targets are the 0.00004400 and 0.00004450 levels. Additional pressure around 0.00004450 is in the EMA200 moving average. A move above would strengthen the bullish momentum.
Litecoin chart analysis
The price of Litecoin manages to break away from the bearish embrace slowly. After yesterday’s pullback to 68.28, the price finds support in that zone and initiates a bullish consolidation. We tested the 70.00 level in the previous hour and formed a two-day high at 70.25. We have additional pressure in the EMA200 moving average, and we would have to stay above it if we plan to start a further recovery. Potential higher targets are 70.50 and 71.00 levels.
We need a pullback to the 69.00 level to trigger the bearish option. This is where we test previous support. With a breakout below, we get confirmation of bearish momentum and can expect a continuation to the bearish side. Potential lower targets are 68.50 and 68.00 levels.
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