SafeMoon and Litecoin: LItecoin pulls back below 90.00
- SafeMoon price continues to test the support zone around the 0.0001700 level.
- Litecoin broke below the 90.00 support level yesterday.
SafeMoon chart analysis
SafeMoon price continues to test the support zone around the 0.0001700 level. Today, we continue a bearish consolidation from the previous day. It is evident that we could see a continuation of the price retreat and the formation of a new low. Potential lower targets are the 0.0001650 and 0.0001600 levels.
We need a positive consolidation and a move to the 0.0001750 level for a bullish option. Additional resistance in that zone is the EMA50 moving average. We need a break above to continue to the bullish side. Then, we need to hold on up there in order to form a new bottom from which we would start our recovery. Potential higher targets are 0.0001800 and 01.0001850 levels.
Litecoin chart analysis
Litecoin broke below the 90.00 support level yesterday. A new lower low was formed at the 87.39 level. After that, the price managed to consolidate and move up to the 89.40 level. Such consolidation could bring us back above the 90.00 level. After that, we need to stay up there in order to consolidate and continue the recovery. Potential higher targets are 91.00 and 92.00 levels. The additional resistance and the zone around 92.00 is the EMA50 moving average.
We need a negative consolidation and price pullback below the 88.00 level for a bearish option. After that, we would again have the opportunity to test the previous low and make a possible breakout below. Potential lower targets are 87.00 and 86.00 levels.
