SafeMoon and Litecoin: Litecoin recovers above $91.00
- The price of SafeMoon was in the 0.00004200-0.00004700 range over the weekend.
- Litecoin is back above the $90.00 level again after a bullish weekend.
SafeMoon chart analysis
The price of SafeMoon was in the 0.00004200-0.00004700 range over the weekend. Most of the movement was conducted below the EMA200 moving average. On Monday, the price tried to initiate a recovery with a bullish impulse and succeeded by jumping to the 0.00004950 level. After that, we went back to the EMA200 at the 0.00004550 level. Then SafeMoon had another attempt to move to the bullish side again, but we were stopped at the 0.00004900 level.
After that, the price makes a bigger pullback, dropping below the EMA200 and 0.00004400 levels this morning. We are still staying low, making a new daily low at the 0.00004200 level. This could negatively affect SafeMoon to begin a retreat to lower levels. Potential lower targets are the 0.00004100 and 0.00004000 levels.
Litecoin chart analysis
Litecoin is back above the $90.00 level again after a bullish weekend. This caused the price to climb to $92.36 in the morning, forming a new two-week high. We remain fairly stable above the $90.50 level, which increases optimism for a continuation to the bullish side. Potential higher targets are $93.00 and $93.50 levels.
We need a negative consolidation and pullback to the $90.00 level for a bearish option. There we test the EMA50 moving average support. Falling below strengthens the bearish momentum, and we continue with further decline. Potential lower targets are $89.00 and $88.00 levels. A little below $88.00 was the EMA200, which could stop the pullback there or slow it down for a while.
