SafeMoon rises to new high, Litecoin remains below 75.00
- Today, we see the continuation of the previous bullish consolidation until the firming of the new high price of SafeMoon at the 0.00005732 level.
- The price of Litecoin is in a new attempt to regain the 75.00 level.
SafeMoon chart analysis
Today, we see the continuation of the previous bullish consolidation until the firming of the new high price of SafeMoon at the 0.00005732 level. There, we encounter resistance and start a pullback, which lowers the price to the 0.00005300 level. After receiving support at that level, we see a slight recovery to 0.00005400. That is not enough, and we can expect another pullback and testing of lower support. Potential lower targets are the 0.00005200 and 0.00005100 levels.
We need a positive consolidation and retracement above the 0.00005500 level for a bullish option. Then, we need to hold there if we want to see a move above the 0.00005600 resistance level. After that, we expect to see stronger bullish momentum and resistance in SafeMoon’s price. Potential higher targets are the 0.00005700 and 0.00005800 levels.
Litecoin chart analysis
The price of Litecoin is in a new attempt to regain the 75.00 level. Now, let’s turn slightly above the 74.00 level, expecting to receive its support and start a further recovery to the 75.00 level. A break above 75.00 and holding it there would greatly benefit further growth and the formation of a new price high. Potential higher targets are 75.50 and 76.00 levels.
For a bearish option, we need a negative consolidation and a drop below the 74.00 level to start. After that, we would look towards the 73.00 level as a potential first support. A new breakout below would confirm bearish pressure and a continuation of the Litecoin price decline. Potential lower targets are 72.50 and 72.00 levels. Additional support in the zone around 72.00 is the EMA50 moving average.