Connect with us

Hi, what are you looking for?

Stock

SafeMoon and Litecoin: Litecoin rose to $84.15 this morning

Litecoin

SafeMoon and Litecoin: Litecoin rose to $84.15 this morning

  • SafeMoon’s price is persistently struggling to move above the EMA200 moving average.
  • Yesterday, we saw a pullback in the price of Litecoin to the $81.09 level.

SafeMoon chart analysis

SafeMoon’s price is persistently struggling to move above the EMA200 moving average. This morning, we witnessed a revisit to the weekly support level at the 0.00004400 level. Subsequently, the price initiated a positive consolidation and broke above the EMA200, forming a daily high at the 0.00004900 level. It is crucial to maintain above the EMA200 moving average to sustain the bullish momentum.

From there, we expect the initiation of a new positive consolidation and a jump in the price of SafeMoon to a new high. Potential higher targets are the 0.00005000 and 0.00005100 levels. We need a pullback below the EMA200 and 0.00004700 for a bearish option. Thus, we move to the bearish side and expect a new test of the weekly support at 0.00004400. Potential lower targets are the 0.00004300 and 0.00004200 levels.

SafeMoon chart analysis

Litecoin chart analysis

Turning to Litecoin, we observed a pullback in its price to the $81.09 level yesterday. However, the formation of the weekly low triggered a positive consolidation and recovery, pushing the price up to the $ 83.60 level by the end of the day. This morning, the recovery continued, reaching the $84.20 level, and we are currently consolidating in that zone. We have the support of the EMA200 moving average, and we’re hopeful that Litecoin will manage to hold above it.

Potential higher targets are $84.50 and $85.00 levels. For a bearish option, we need a negative consolidation below $83.50. With that step, we move below the EMA200, which increases the bearish pressure. After that, we test the weekly open price in the $83.00 zone. The impossibility to maintain even there will send us to a new daily low. Potential lower targets are $82.50 and $82.00 levels.

Litecoin chart analysis

The post SafeMoon and Litecoin: Litecoin rose to $84.15 this morning appeared first on FinanceBrokerage.

You May Also Like

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com