SafeMoon and Litecoin: SafeMoon tests support level
- The price of SafeMoon is testing support at the 0.0001300 level for the second day.
- Yesterday’s bearish consolidation of the Litecoin price was stopped this morning at $59.50.
SafeMoon chart analysis
The price of SafeMoon is testing support at the 0.0001300 level for the second day. We had an attempt to start a recovery yesterday, but we stopped at the 0.0001320 level. After that, we see a new bearish consolidation and a drop to the current level. Now, we expect to see a breakout below and the formation of a new lower low. Potential lower targets are the 0.0001280 and 0.0001260 levels.
We need a positive consolidation and a return above the 0.0001320 level for a bullish option. Then, we need to maintain it up there before we start a further price recovery. Potential higher targets are the 0.0001340 and 0.0001360 levels. We have the main resistance in the zone around 0.0001360 levels in the EMA50 moving average.
Litecoin chart analysis
Yesterday’s bearish consolidation of the Litecoin price was stopped this morning at $59.50. After that, we see a bullish impulse and a jump to the $62.50 level. Then, in the next hour, we returned to the $60.00 level, and there, we began a new positive consolidation with growth to the $60.80 level. If this consolidation continues, the price will have a chance to continue its recovery. Potential higher targets are $61.50 and $62.00 levels.
We need a negative consolidation and price pullback to the $60.00 support level for a bearish option. A break below would show that the price does not have the strength to sustain at that level, and we will see a continuation to the bearish side. Potential lower targets are the $59.00 and $58.00 levels.
