Safemoon pauses at 0.00005600 and Litecoin at 75.00
- In the previous 24 hours, the price of SafeMoon moved in a lateral consolidation in the 0.00005300-0.00005600 range.
- Litecoin still fails to move above the 75.00 level.
SafeMoon chart analysis
In the previous 24 hours, the price of SafeMoon moved in a lateral consolidation in the 0.00005300-0.00005600 range. Today, we continue in the same rhythm and move without major oscillations. On a positive note, we are still above the EMA50 moving average and expect to see a continuation to the bullish side. To begin with, we need to move above the 0.00005600 level and try to hold up there. If we succeed, we will have a good losing position to start further recovery.
Potential higher targets are 0.00005700 and 0.00005800 levels. For a bearish option, we need a pullback to the 0.00005200 level. Thus, we would break out of the previous consolidation and pull back below the EMA50 moving average. This would confirm bearish momentum and the continuation of SafeMoon’s price retreat. Potential lower targets are the 0.00005100 and 0.00005000 levels.
Litecoin chart analysis
Litecoin still fails to move above the 75.00 level. Yesterday’s attempt stopped at 74.90, after which we started a pullback to the 72.00 level. This morning, we saw a new bullish consolidation, but this time, we stopped at the 74.50 level and made a pullback again at the 72.00 level. We have additional support in this zone in the EMA50 moving average.
A break below would increase uncertainty about the recovery, and we would see a continuation of the pullback until the next support. Potential lower targets are 71.50 and 71.00 levels. We need a positive consolidation and return in the zone around 74.50 for a bullish option. Then, we would have to hold up there if we plan to retest the 75.00 level and make a break above. Potential higher targets are 75.50 and 76.00 levels.