SafeMoon within reach of 0.00006000, Litecoin climbed
- Since the start of Wednesday, the price of SafeMoon has pushed bullish impulses to the 0.00005596 level.
- Litecoin climbed to a new weekly high this morning at the $98.90 level.
SafeMoon chart analysis
Since the start of Wednesday, the price of SafeMoon has pushed bullish impulses to the 0.00005596 level. A few hours ago, we saw the first impulse above the EMA200 and the 0.00004500 level. A pullback to the 0.00004700 level followed the first impulse. There we find new support and remain above the EMA200 moving average. After that, we start with a new bullish consolidation and test the same level again.
Currently, SafeMoon is at 0.00005200, and if it manages to hold above, it will have a chance to put new pressure on the weekly high. Potential higher targets are the 0.00005700 and 0.00005800 levels. We need to pull back to the 0.00004500 level for a bearish option. There, we test the EMA200 moving average. The inability to maintain above pushes the price below to a new low and thereby intensifies the bearish pressure. Potential lower targets are 0.00004400 and 0.00004300 levels.
Litecoin chart analysis
Litecoin climbed to a new weekly high this morning at the $98.90 level. There, we encounter resistance and start with a pullback from the $94.00 level. We are holding above for now, but we are under bearish pressure and expect further pullback. Potential lower targets are $93.00 and $92.00 levels. Additional support could be found in the EMA50 in the zone around $92.70, while the EMA200 remained low in the zone of $89.00.
Litecoin needs to climb above the $96.00 level for a bullish option. Then there to form a bottom and hold above it. After that, we could see the initiation of a bullish consolidation and a continuation of the bullish side. Potential higher targets are $97.00 and $98.00 levels. Testing this morning’s high is also possible.
