SafeMoon and Litecoin: Litecoin finds support at 62.50
- SafeMoon price managed to gain support at the 0.0001400 level yesterday.
- Litecoin price continues to consolidate sideways for the second day in a row in the 62.50-64.00 range.
SafeMoon chart analysis
SafeMoon price managed to gain support at the 0.0001400 level yesterday. From that level, we saw the initiation of a bullish consolidation up to the 0.0001450 level. There, we encounter a new resistance and pull back to 0.0001410, forming a new higher low. Since then, we have been in a bullish consolidation to the 0.0001435 level and could revisit the 0.0001440 previous resistance zone.
A break above would mean that we have the strength to start a further recovery. Potential higher targets are 0.0001460 and 0.0001480 levels. We need a negative consolidation and pullback to the previous support at the 0.0001400 level for a bearish option. Additional support in that zone is the EMA50 moving average. A break below would confirm the bearish scenario; the potential lower targets are the 0.0001380 and 0.0001360 levels.
Litecoin chart analysis
Litecoin price continues to consolidate sideways for the second day in a row in the 62.50-64.00 range. This morning, we again looked for support at the 62.50 level and succeeded in doing so, as we now see a bullish impulse to the 63.00 level. Now, we expect to see a continuation on the bullish side and a new visit to the 64.00 resistance level.
To continue to the bullish side, we need a break above and try to hold above. After that, we could expect to see a bullish consolidation and recovery in the price of Litecoin. Potential higher targets are 64.50 and 65.00 levels. We need a negative consolidation and a drop below the 62.50 support level for a bearish option. After that, we would be able to test the previous low and maybe form a new one. Potential lower targets are 62.00 and 61.50 levels.
