SafeMoon and Litecoin: SafeMoon under pressure at 0.00006000
- On Friday and Saturday, SafeMoon’s price successfully fought and maintained above EMA200.
- Litecoin climbed to a new weekly high at $86.51 last night.
SafeMoon chart analysis
On Friday and Saturday, SafeMoon’s price successfully fought and maintained above EMA200. We saw an impulse to the 0.00011000 level; after that, there was a pullback. On Sunday, another bullish attempt at 0.00006500 was stopped at the 0.00009000 level. From there, a new pullback was initiated, this time to a new low at the 0.00004800 level. We fell below the EMA200 again, which had a negative effect on the price movement only yesterday and today.
On Monday we had a minor positive consolidation and attempted recovery to the 0.00007500 level. This created a new lower high, which only confirmed that the price did not have the strength to recover and that another pullback would follow. We are now at 0.00006050, and bearish consolidation is underway. Potential lower targets are the 0.00005500 and 0.00005000 levels.
Litecoin chart analysis
Litecoin climbed to a new weekly high at $86.51 last night. This morning, we saw a pullback from that level to $84.00. Here, we are now testing the EMA200 moving average. We hope for his support in order to stay on the bullish side. A move above $85.00 would initiate a recovery. Then we need to stay up there and, with a new bullish consolidation, start further growth of Litecoin.
Potential higher targets are $86.00 and $87.00 levels. We need a break below $84.00 and the EMA200 for a bearish option. With that step, we descend to a new weekly low and confirm the bearish pressure on Litecoin. Potential lower targets are $83.00 and $82.00 levels.
