SafeMoon is stable above 0.00003400, what about LiteCoin?
- The price of SafeMoon managed to stay well above the EMA200 moving average this week.
- Litecoin price dropped to a new weekly low of $67.32 yesterday.
SafeMoon chart analysis
The price of SafeMoon managed to stay well above the EMA200 moving average this week. We have support at the 0.00003300 level and resistance at the 0.00003500 level. Now, we need an impulse that would move us above the resistance line and thus trigger a bullish option. Potential higher targets are the 0.00003700 and 0.00003800 levels.
For a bearish option, a drop below the EMA200 is the first indication of weakness in SafeMoon’s price. We are once again putting pressure on the 0.00003300 support level. A break below forms a new weekly low and thus gives us confirmation of bearish momentum. Potential lower targets are the 0.00003200 and 0.00003100 levels.
Litecoin chart analysis
Litecoin price dropped to a new weekly low of $67.32 yesterday. We manage to stop there, and from there we initiate a bullish consolidation and climb up to the $69.00 level. This morning, the price started a new pullback, but this time, it stopped at $68.00 and formed a new higher low. This was a sign for us that we were moving away from the bearish zone, and the price returned again above the $69.00 level.
We expect to continue and visit $70.00 by the end of the week. Added resistance in that zone is the EMA200 moving average which could slow further Litecoin recovery. Potential higher targets are $70.50 and $71.00 levels. We need a break below the $68.00 level for a bearish option. We are already in trouble here because we are close to testing the weekly low, which could affect Litecoin under pressure to slide below.
