SafeMoon and Litecoin: Litecoin drops to the 65.00 level
- The price of SafeMoon continues with bearish consolidation, forming a historic low on Saturday at the 0.00003518 level.
- During the week, the price of Litecoin encountered resistance at the $72.73 level, and we failed to move above it.
SafeMoon chart analysis
The price of SafeMoon continues with bearish consolidation, forming a historic low on Saturday at the 0.00003518 level. After that, we looked at the attempted recovery, which was stopped yesterday at the 0.00004205 level. A bearish consolidation was initiated again, and the price began to slide. By falling below the 0.00004000 level, we entered a critical zone that could generate a new price low.
Yesterday’s low is 0.00003700, and potential lower levels are 0.00003600 and 0.00003500. If we are considering a bullish option, we would have to get back above the 0.00004000 level first. After some consolidation above that level, we could think about further recovery. Potential higher targets are the 0.00004100 and 0.00004200 levels. The EMA200 moving average is in the zone around 0.00004200 levels.
Litecoin chart analysis
During the week, the price of Litecoin encountered resistance at the $72.73 level, and we failed to move above it. Yesterday, we saw two attempts again, but everything failed, and the price began to retreat. With two strong bearish impulses, we fell below the $70.00 level and the EMA200 moving average. The decline did not stop there but continued to lower the price of Litecoin to the $66.50 level. This morning, we saw a recovery attempt that lasted up to the $68.40 level.
With new resistance in that zone, Litecoin starts a new pullback, breaking through yesterday’s low and forming a new one at the $64.05 level. Potential lower targets are $63.00 and $62.00 levels. For a bullish option, I need a new positive consolidation and a return above the $67.00 level. If we manage to stabilize and maintain it, we will have an opportunity to recover.
