SafeMoon and Litecoin: Litecoin forms a new high at $73.53
- During the weekend, the price of SafeMoon managed to create a bullish impulse to the 0.00004000 level.
- This morning, we saw a concrete break of the Litecoin price above the $70.00 level, which resulted in the formation of a new high at the $73.53 level.
SafeMoon chart analysis
During the weekend, the price of SafeMoon managed to create a bullish impulse to the 0.00004000 level. After that, the price quickly returned to the initial position at the 0.00003200 level. There, we get support from the EMA 200 moving average and initiate a bullish consolidation that continues today. The bullish picture looks stable, and this morning, we saw the price jump to the 0.00003760 level.
We expect to see further growth in SafeMoon’s price by the end of the week. Potential higher targets are 0.00003900 and 0.00004000 levels. For a bearish option, we need a negative consolidation and a drop below the 0.00003400 level. With that, we drop below the weekly open price and are close to the EMA 200 moving average. If the support does not hold this time, the price could cause a deeper pullback. Potential lower targets are the 0.00003200 and 0.00003000 levels.
Litecoin chart analysis
This morning, we saw a concrete break of the Litecoin price above the $70.00 level, which resulted in the formation of a new high at the $73.53 level. The price lost momentum in that zone and initiated a pullback to the $71.00 level. Here, we meet the EMA 50 moving average and hope for its support. If we manage to hold on, we will see the start of a new positive consolidation. Potential higher targets are the $73.00 and $74.00 levels.
For a bearish option, we need a negative consolidation and a new pullback below the $70.00 level. This brings us below the weekly open price, which further complicates the picture for Litecoin. At $69.00, we could find support in the EMA 200 moving average. Potential lower targets are the $68.00 and $67.00 levels.
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