SafeMoon above EMA50, Litecoin rises to 75.00 level
- Over the weekend, the price of SafeMoon managed to move above and climb to the 0.00005430 level.
- Yesterday, we saw the Litecoin price jump to 75.00 for the first time in December.
SafeMoon chart analysis
Over the weekend, the price of SafeMoon managed to move above and climb to the 0.00005430 level. At that level, the price formed the December high, and we expect to see a break above and the formation of a new one. The jump to yesterday’s high was followed by a pullback and testing of support at the 0.00005000 level.
We managed to gain support, move back above the EMA50 moving average, and enter the current bullish consolidation. Now, the price is at the 0.00005350 level, and we are on our way to the 0.00005500 level. By jumping to this level, it would lead to the formation of a new high and confirm the bullish option. Potential higher targets are the 0.00005600 and 0.000005700 levels.
Litecoin chart analysis
Yesterday, we saw the Litecoin price jump to 75.00 for the first time in December. Rejoicing at that level was short-lived because bearish consolidation followed, and the price returned to 71.50. The fall is stopped at that level, and additional support in that zone is the EMA50 moving average. The price remains under bearish pressure if it does not return above the 73.00 level. Potential lower targets are 71.00 and 70.50 levels.
As we said, we need to move above the 73.00 level for a bullish option. Then we need to hold above it and form a new bottom there. Thus, we would have a stable initial position for the continuation of the bullish recovery. Potential higher targets are 73.50 and 74.00 levels.