SafeMoon and Litecoin: Litecoin slipped below 60.00
- The price of SafeMoon fell this morning to a new weekly low at the 0.0001375 level.
- The price of Litecoin fell below the 60.00 level this morning, forming a one-month low at 59.73.
SafeMoon chart analysis
The price of SafeMoon fell this morning to a new weekly low at the 0.0001375 level. At that point, we managed to get support and initiate a consolidation up to the 0.0001410 level. Here, we now encounter resistance in the EMA50 moving average. We need a breakout above for further continuation of the bullish option. Potential higher targets are 0.0001420 and 0.0001430 levels.
We need negative consolidation and pullbacks below the 0.0001400 level for a bearish option. Then we could see a visit to the previous low. A longer stay in that zone could lead to a breakout below and the formation of a new low price. Potential lower targets are the 0.0001370 and 0.0001360 levels.
Litecoin chart analysis
The price of Litecoin fell below the 60.00 level this morning, forming a one-month low at 59.73. The fall stopped there, and we saw a bullish consolidation and recovery to 61.00. Based on the current picture, we can conclude that we should see a continuation of Litecoin’s recovery. Potential higher targets are 61.50 and 62.00 levels.
An additional break in the area around the 62.00 level is the EMA50 moving average, and we would need a new breakout to continue above. For a bearish option, we need a negative consolidation and pullback to support at the 60.00 level. A drop below would lead to the formation of a new lower low and thus confirm the bearish option. Potential lower targets are 59.50 and 59.00 levels.
