SafeMoon and Litecoin: Litecoin breaks below $82.00
- The price of SafeMoon continues to move sideways in the 0.00004400-0.00005000 range.
- Yesterday’s bullish consolidation of the Litecoin price was stopped at the $84.25 level.
SafeMoon chart analysis
The price of SafeMoon continues to move sideways in the 0.00004400-0.00005000 range. Yesterday, we had two short-term bullish impulses above the upper line of this range. Today’s movement is based below the EMA200 in the 0.00004600-0.00004850 range. We see a slight bullish consolidation and a new attempt to move above the EMA200. If we go back above again, a new bullish impulse could happen.
Potential higher targets are the 0.00005000 and 0.00005200 levels. We need new pressure on the lower 0.00004400 support level for a bearish option. We thereby test the weekly low, which could initiate an impulse below to a new lower low. Potential lower targets are the 0.00004300 and 0.00004200 levels.
Litecoin chart analysis
Yesterday’s bullish consolidation of the Litecoin price was stopped at the $84.25 level. Additional resistance in that zone is the EMA200 moving average, which led to a new bearish consolidation and pullback below $83.00, the weekly open price. This morning, we had a continuation on the bearish side with the formation of a new weekly low at the $81.71 level. Litecoin broke last week’s low with this.
Potential lower targets are $81.50 and $81.00 levels. We now need to hold above the $82.00 level for a bullish option. If we succeed in this, the price should start a bullish consolidation. Potential higher targets are $82.50 and $83.00 levels.
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