SafeMoon and Litecoin: LItecoin recovered to $68.00 level
- The price of SafeMoon managed to stabilize above the EMA 200 moving average in the previous two days.
- Litecoin’s price managed to break above the EMA 200 moving average last night.
SafeMoon chart analysis
The price of SafeMoon managed to stabilize above the EMA 200 moving average in the previous two days. Today’s price movement is in the zone around 0.00003250 levels. We have the support of the moving averages and just lack the momentum to trigger a bullish option. Potential higher targets are 0.00003300 and 0.00003400 levels. This week’s high price of SafeMoon is at the 0.00003484 level.
We need a negative consolidation down to the EMA 200 moving average and the 0.00003150 level for a bearish option. There, we will be forced to test support. Further volatility leads to a further pullback below. Potential lower targets are the 0.00003100 and 0.00003000 levels. The weekly open price is at the 0.00002958 level.
Litecoin chart analysis
Litecoin’s price managed to break above the EMA 200 moving average last night. This morning we saw a stabilization above and the initiation of a positive consolidation towards the $68.00 level. We stop there and encounter resistance at that level. The price is making a slight pullback to $67.50, and we are now watching its next move. It is possible that we will go down to the EMA 200 moving average again.
Too much pressure in that zone would affect us to see a transition below. This will increase the bearish momentum and further pullback of Litecoin will follow. Potential lower targets are the $65.00 and $64.00 levels. We need a positive consolidation and a return above the $68.00 level for a bullish option. With this, we climb to a new weekly high and confirm the continuation to the bullish side. Potential higher targets are $70.00 and $72.00 levels.
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