SafeMoon and Litecoin: $63,13 new low for Litecoin
- The price of SafeMoon remains under bearish pressure today.
- Yesterday, we saw the Litecoin price drop to a new low of $63.13.
SafeMoon chart analysis
The price of SafeMoon remains under bearish pressure today. Yesterday’s bullish attempts to hold or move above the 0.00004000 level ended in failure. This led to a new bearish consolidation and a price drop to the 0.00003600 level. Additional bearish pressure is created by the EMA200 moving average. This could lead to a breakout below and the formation of a new price low. Potential lower targets are 0.00003500 and 0.00003400 levels.
We need to get back above the 0.00003900 level for a bullish option. Then we have to maintain above that level. We need a new bullish impulse to initiate a bullish consolidation and retest the 0.00004000 level. A break above would help us a lot to start a further recovery. Potential higher targets are the 0.00004100 and 0.00004200 levels. We have to pay close attention to the 0.00004100 level because there we encounter the EMA200 moving average.
Litecoin chart analysis
Yesterday, we saw the Litecoin price drop to a new low of $63.13. The decline was stopped there, and Litecoin started to recover from there. We quickly climbed above the $64.00 level and embarked on further positive consolidation that continues today. Today’s high is at $66.00, and based on the current consolidation, we expect a break above and further growth to the bullish side. Potential higher targets are the $67.00 and $68.00 levels.
The EMA200 moving average is in the zone around $68.80 levels. A pullback below the $64.00 support level is required for a bearish option. A return below increases the pressure on the price to continue to decline. Potential lower targets are $63.00 and $62.00 levels.
