SafeMoon and Litecoin: Litecoin breaks above $76.00 level
- In the last ten days, we see how the price of Safemoon is slowly moving to the positive side above the EMA200 moving average.
- After last week’s struggle to break above the $70.00 level, yesterday, we finally saw Litecoin break above that level and continue on the bullish side.
SafeMoon chart analysis
In the last ten days, we see how the price of Safemoon is slowly moving to the positive side above the EMA200 moving average. Monday was a bit volatile as we had a pullback below the EMA200 to the 0.00003150 support level. Fortunately, we managed to quickly find support and move back above the EMA200 and 0.00003500 levels. We stayed above until the end of the day, and today, we continue on the bullish side with a jump to the 0.00003875 level.
We expect to see a break of resistance at 0.00003900 and move on. Potential higher targets are the 0.00004000 and 0.00004100 levels. We need a new pullback below the EMA200 and the 0.00003500 levels for a bearish option. This would bring us back to the support zone, increasing the pressure on SafeMoon. Potential lower targets are the 0.00003400 and 0.00003300 levels.
Litecoin chart analysis
After last week’s struggle to break above the $70.00 level, yesterday, we finally saw Litecoin break above that level and continue on the bullish side. A strong bullish consolidation followed, which took us up to the $76.44 level this morning. For now, we stop there and pull back slightly to the $75.60 level. We expect to test $75.00 and try consolidating there to stay above.
If the price succeeds in this, it will have a good basis to initiate a positive consolidation and rise to a new high. Potential higher levels: $77.00 and $78.00 levels. We need a negative consolidation and a drop below the $75.00 level for a bearish option. By doing so, Litecoin would already lean to the bearish side and hang from the previous high. Potential lower targets are $74.00 and $73.00 levels.
