SafeMoon is staying low, while Litecoin is testing 70.00
- The price of SafeMoon continues yesterday’s bearish consolidation until the 0.00004700 level this morning.
- The Litecoin price was concentrated around the 70.00 level in the previous two days.
SafeMoon chart analysis
The price of SafeMoon continues yesterday’s bearish consolidation until the 0.00004700 level this morning. A slight recovery takes us up to the 0.00004850 level, trying to move us away from this week’s low. We would have to return to the 0.00005000 level and test the EMA50 moving average. A break above would give us the opportunity to start a further recovery, opening up higher levels.
Potential higher targets are the 0.00005100 and 0.00005200 levels. For a bearish option, we need a continuation of the previous negative consolidation and a new pullback to the 0.00004700 support level. A break below would lead to the formation of a new low, and thus, we would get confirmation of bearish momentum and a drop in the price of SafeMoon. Potential lower targets are 0.00004600 and 0.00004500 levels.
Litecoin chart analysis
The Litecoin price was concentrated around the 70.00 level in the previous two days. In that zone, we test the EMA50 moving average, which further complicates the situation for Litecoin. We need a break above this resistance in order to have a chance to continue to the bullish side. Potential higher targets are 70.50 and 71.00 levels.
It would be best to have a break below the 69.00 support level for a bearish option. Then, with negative consolidation, we would continue with the pullback, testing this week’s low in the zone around the 68.00 level. A break below this zone leads to a new low and thus confirms the bearish pressure on the price of Litecoin. Potential lower targets are 67.50 and 67.00 levels.