SafeMoon and Litecoin: SafeMoon slides lower and lower
- Yesterday’s attempt by the SafeMoon price to hold above the EMA200 was unsuccessful.
- The Litecoin price rose to $76.15 this morning, forming a weekly high there.
SafeMoon chart analysis
Yesterday’s attempt by the SafeMoon price to hold above the EMA200 was unsuccessful. This led to an acceleration of the bearish impulse to a new weekly low at the 0.00002850 level. Below, we see a slight recovery to the 0.00002950 level. Today’s movement is in the 0.00002900-0.00003000 range. The price is quite calm, and we need an impulse in some direction to determine the next trend.
If we see a bearish impulse, we form a new lower low. Potential lower targets are the 0.00002800 and 0.00002700 levels. For a bullish option, we need a break above the 0.00003000 level. This creates a new daily high and exits the previous range. After that, SafeMoon will have the opportunity to start a bullish consolidation and start a recovery. Potential higher targets are 0.00003100 and 0.00003200 levels.
Litecoin chart analysis
The Litecoin price rose to $76.15 this morning, forming a weekly high there. After that, we encounter resistance in that zone and start withdrawing. The price finds new support at the $74.50 level and is successfully holding above that level for now. On the downside, around $74.20, we have EMA200 moving average support and expect Litecoin to have enough strength to hold above.
If it fails to do so, we will see a drop below $74.00 and a move to the bearish side. After that, we can only hope for further pullbacks and testing of lower support levels. Potential lower targets are $73.50 and $73.00 levels. We need a positive consolidation and a move above the $75.50 level for a bullish option. This moves us above the weekly open price and it will be easier for us to continue with the recovery. Potential higher targets are $76.00 and $76.50 levels.
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