SafeMoon and Litecoin: Litecoin moves to a new weekly high
- The price of SafeMoon has been in a steady bullish consolidation this week.
- The price of Litecoin this morning formed a new weekly high at the $74.28 level.
SafeMoon chart analysis
The price of SafeMoon has been in a steady bullish consolidation this week. However, we still have a problem with the 0.00003764 level, which represents resistance to our recovery. Yesterday and today, we tried several times to move above it, but we always stopped at that level and went back. We have support from the EMA 50 and EMA 200 moving averages, and based on that, we expect to see a continuation of the bullish trend.
Potential higher targets are 0.00003800 and 0.00003850 levels. For a bearish option, we need a negative consolidation and pullback to the 0.00003550 level. We will test the daily open price and the EMA 50 moving average there. If that support doesn’t hold, SafeMoon could face a deeper pullback. Potential lower targets are 0.00003500 and 0.00003450 levels.
Litecoin chart analysis
The price of Litecoin this morning formed a new weekly high at the $74.28 level. We didn’t have the strength to continue, and the price lost momentum to continue on the bullish side. Soon after that, a bearish consolidation was initiated and a drop to the $72.30 level. Here, we met the EMA 50 moving average, which is providing price support for now. The fall was briefly halted, and Litecoin recovered to $72.75.
If the support holds, we can hope for the initiation of a bullish consolidation. With the return to $73.50, we move to the positive side as we are then above the daily open price. After that, we can expect a further recovery to the bullish side. Potential higher targets are $74.00 and $74.50 levels. We were at the $75.00 level in the first days of July.
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