SafeMoon and Litecoin: Litecoin is back above 105.00
- SafeMoon’s price dropped to support at the 0.0001760 level yesterday.
- Litecoin’s price dropped to the 98.00 support level yesterday.
SafeMoon chart analysis
SafeMoon’s price dropped to support at the 0.0001760 level yesterday. After which, we see the start of a recovery and today’s return above the 0.0001800 level. The price has returned above the EMA50 moving average, which could positively affect the trend’s further movement.
Potential higher targets are the 0.0001840 and 0.0001860 levels. By crossing above the 0.0001860 level, SafeMoon could start a stronger bullish trend, at least until the end of this month. We need a negative consolidation and pullback to the 0.0001760 support level for a bearish option. A price break below would indicate a potential further pullback, and the lower targets are the 0.0001740 and 0.0001720 levels.
Litecoin chart analysis
Litecoin’s price dropped to the 98.00 support level yesterday. We can say that the price thus tested the EMA50 moving average and the 100.00 level. A rapid consolidation followed and a return above the 100.00 level. We are now already above the 105.00 level and could see a continuation of the recovery today. Potential higher targets are 108.00 and 110.00 levels.
We still remain in the stable bullish trend that started in mid-June. We need a negative consolidation and a new drop below the 100.00 level for a bearish option. After that, we could expect to see the formation of a new low, which is a sign of the weakening of the price of Litecoin and the continuation of the retreat. Potential lower targets are 98.00 and 96.00 levels.
