SafeMoon and Litecoin: Litecoin rose to $84.15 this morning
- SafeMoon’s price is persistently struggling to move above the EMA200 moving average.
- Yesterday, we saw a pullback in the price of Litecoin to the $81.09 level.
SafeMoon chart analysis
SafeMoon’s price is persistently struggling to move above the EMA200 moving average. This morning, we witnessed a revisit to the weekly support level at the 0.00004400 level. Subsequently, the price initiated a positive consolidation and broke above the EMA200, forming a daily high at the 0.00004900 level. It is crucial to maintain above the EMA200 moving average to sustain the bullish momentum.
From there, we expect the initiation of a new positive consolidation and a jump in the price of SafeMoon to a new high. Potential higher targets are the 0.00005000 and 0.00005100 levels. We need a pullback below the EMA200 and 0.00004700 for a bearish option. Thus, we move to the bearish side and expect a new test of the weekly support at 0.00004400. Potential lower targets are the 0.00004300 and 0.00004200 levels.
Litecoin chart analysis
Turning to Litecoin, we observed a pullback in its price to the $81.09 level yesterday. However, the formation of the weekly low triggered a positive consolidation and recovery, pushing the price up to the $ 83.60 level by the end of the day. This morning, the recovery continued, reaching the $84.20 level, and we are currently consolidating in that zone. We have the support of the EMA200 moving average, and we’re hopeful that Litecoin will manage to hold above it.
Potential higher targets are $84.50 and $85.00 levels. For a bearish option, we need a negative consolidation below $83.50. With that step, we move below the EMA200, which increases the bearish pressure. After that, we test the weekly open price in the $83.00 zone. The impossibility to maintain even there will send us to a new daily low. Potential lower targets are $82.50 and $82.00 levels.
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