SafeMoon stable at 0.00005000 and Litecoin jumps to 70.00
- This morning, we saw the SafeMoon price jump to the 0.00005500 level.
- Yesterday’s bullish consolidation pushed the price of Litecoin back above the 70.00 level.
SafeMoon chart analysis
This morning, we saw the SafeMoon price jump to the 0.00005500 level. Thus, we managed to break above the EMA50 moving average for the second time this week. The joy was short-lived, and we saw another pullback to the 0.00005000 support level. We managed to get support in that zone, and now we expect to see a new bullish consolidation and testing of the EMA50 moving average and 0.00005200 level.
Potential higher targets are 0.00005300 and 0.00005400 levels. We need a negative consolidation and pullback below the support at the 0.00005000 level for a bearish option. After that, the price has the opportunity to form a low and thereby confirm the bearish pressure on the chart. Potential lower targets are the 0.00004900 and 0.0000480 levels.
Litecoin chart analysis
Yesterday’s bullish consolidation pushed the price of Litecoin back above the 70.00 level. This morning, a high price was formed at the 70.60 level, and there, we encountered resistance that did not allow us to continue on the bullish side. New pressure on the price creates a pullback to the 69.50 level, bringing the price back below 70.00 and the EMA50 moving average.
For a bullish option, we need a new positive consolidation and a jump to 71.00 in order to form a new high price. Potential higher targets are 71.50 and 72.00 levels. We need a negative consolidation and a price breakout below the 69.00 level for a bearish option. Dropping below shows us that the price has no strength for further recovery and that a pullback is inevitable. Potential lower targets are 68.50 and 68.00 levels.