SafeMoon and Litecoin: Litecoin remains stable above $63.00
- SafeMoon’s price yesterday continued the previous sideways consolidation, moving in the 0.0001290-0.0001330 range.
- The price of Litecoin yesterday formed a new weekly high at the $65.50 level.
SafeMoon chart analysis
SafeMoon’s price yesterday continued the previous sideways consolidation, moving in the 0.0001290-0.0001330 range. This morning, we visited the lower support level again, after which we saw bullish consolidation and a move to the 0.0001310 level. In the middle of this channel, we have the EMA50 moving average, and we need a move above to continue to the upper level at 0.0001330. Potential higher targets are the 0.0001340 and 0.0001350 levels.
For a bearish option, we need a negative consolidation and a new pullback to support at the 0.0001290 level. A break below would indicate a further weakening of SafeMoon’s price, a descent to lower levels. Potential lower targets are the 0.0001280 and 0.0001270 levels.
Litecoin chart analysis
The price of Litecoin yesterday formed a new weekly high at the $65.50 level. After that, we see a bearish consolidation and pullback to the $63.00 level. The price manages to consolidate at that level and initiate a positive consolidation up to the $63.95 level. We should soon climb above the $64.00 level and move towards the $65.00 level again. Additional resistance could be created by the EMA50 moving average. Potential higher targets are $65.50 and $66.00 levels.
We need a negative consolidation and another drop to the $63.00 support level for a bearish option. After that, we would have the opportunity to fall below and form a new low. Thus, we would confirm the bearish option; the potential lower targets are $62.50 and $62.00.
