Will SafeMoon See The 0.00003200 Level Soon or not?
- SafeMoon’s price remains under bearish pressure below the 0.00003200 level.
- The price of Litecoin stopped at the $73.00 level yesterday, after which we saw a pullback to the $68.12 level.
SafeMoon chart analysis
SafeMoon’s price remains under bearish pressure below the 0.00003200 level. This brought it down to the 0.00002850 level this morning. We were close to visiting this week’s low at the 0.00002800 level. We get new support at that level and recover to the 0.00003100 level. We now need a continuation of this positive consolidation in order to start a further recovery to the bullish side.
Potential higher targets are the 0.00003200 and 0.00003300 levels. The additional pressure and major resistance are in the EMA200 in the zone around the 0.00003300 level. By returning around 0.00002850 levels, we would be back in bearish territory. New pressure could easily break below and form a new low, and potential lower targets are the 0.00002800 and 0.00002750 levels.
Litecoin chart analysis
The price of Litecoin stopped at the $73.00 level yesterday, after which we saw a pullback to the $68.12 level. There we get new support and start from there into a bullish consolidation. The consolidation continued today up to $70.80 where we are encountering resistance. As of now, we have resistance there and are retreating to support at the $70.20 level. Additional support is found in the EMA200 moving average. If we stay above that, we will be in a good position to start a further recovery.
Potential higher targets are $71.00 and $71.50 levels. For a bearish option, we need a negative consolidation and pullback below the $70.00 level. A drop below would put additional pressure on the Litecoin price to continue its further release in search of new support. Potential lower targets are $69.50 and $69.00 levels.
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