SafeMoon and Litecoin: Litecoin pulled back below $70.00
- SafeMoon’s price has been in a bearish consolidation for a week.
- Yesterday’s attempt by the price of Litecoin to initiate a bullish trend was stopped at the $71.00 level
SafeMoon chart analysis
SafeMoon’s price has been in a bearish consolidation for a week. Yesterday, we saw the formation of a new low at the 0.0000490 level. In continuation, we moved back above the 0.0000500 level and are managing to hold above it for now. We remain under bearish pressure, which could lead to a breakout below and the formation of a new low. Potential lower targets are the 0.0000490 and 0.0000480 levels.
We need a positive consolidation and a move to the 0.0000520 level for a bullish option. Then, we need to hold on there in order to wait for a new bullish impulse and start the continuation of the recovery. Potential higher targets are the 0.0000530 and 0.0000540 levels. Additional resistance will be in the zone around 0.0000540 levels in the EMA50 moving average.
Litecoin chart analysis
Yesterday’s attempt by the price of Litecoin to initiate a bullish trend was stopped at the $71.00 level. We had additional pressure in that zone in the EMA50 moving average, which did not allow us to move above it and begin further recovery. Conversely, there was a pullback to the $69.00 level.
We find support at that level and move up to the $70.00 level, where we are now. Potential lower targets are $68.50 and $68.00 levels. We need a positive consolidation and a jump above the EMA50 and the $71.00 level for a bullish option. Then, we would have to hold on up there in order to have a chance to start the recovery on the bullish side with a new impulse. Potential higher targets are $71.50 and $72.00 levels.