SafeMoon and Litecoin: SafeMoon stabilized above 0.00003550
- The price of SafeMoon has been in a mild bullish consolidation since the start of this week.
- This morning, the Litecoin price gained support at the $72.00 level, supported by the EMA 200 moving average.
SafeMoon chart analysis
The price of SafeMoon has been in a mild bullish consolidation since the start of this week. This morning, we saw a break above the EMA 200 moving average to the 0.00003580 level. The price could try to hold above 0.00003550 and the 200 EMA. After that, if it manages to stabilize there, it will have an opportunity to initiate a bullish consolidation. A jump above 0.00003650 would form a new high for the week. Potential higher targets are 0.00003700 and 0.00003750 levels.
Conversely, for a bearish option, we need a SafeMoon pullback below the EMA 200 moving average. Such a move will increase the bearish pressure on the price to return to this week’s support zone. This would have a negative impact on the price movement for the rest of the week, and we could see the formation of a new low. Potential lower targets are the 0.00003400 and 0.00003000 levels.
Litecoin chart analysis
This morning, the Litecoin price gained support at the $72.00 level, supported by the EMA 200 moving average. After that, a bullish consolidation and growth to the $73.50 level was initiated. We have some resistance there for now, and we are trying to consolidate at the $73.00 level. Potential higher targets are the $74.00 and $74.50 levels.
It is crucial that Litecoin moves above $74.00 as it bypasses the weekly open price. For a bearish option, we need a negative consolidation and pullback to $72.00 on the EMA 200 moving average. Increased pressure at that level could push the price to a new daily low. With that step, we go down to the negative side and look towards the previous lows. Potential lower targets are $71.50 and $71.00 levels.
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