SafeMoon and Litecoin: Litecoin in recovery from yesterday
- The price of SafeMoon has stabilized today and is moving in the 0.00001800-0.00002200 range
- The Litecoin price recovered today to the $62.60 level
SafeMoon chart analysis
The price of SafeMoon has stabilized today and is moving in the 0.00001800-0.00002200 range. We can say that today’s movement is positive and that it could continue on the bullish side with the formation of a new daily high. With a move to the 0.00002500 level, we will encounter the EMA 50 moving average and hope for a move above to gain its support. Potential higher targets are 0.00002600 and 0.00002800 levels.
In the 0.00003000 zone, the EMA 200 moving average awaits us as the next significant resistance. For a bearish option, we need a negative consolidation and a drop below the 0.00001800 support level. Below that level, we go to a new daily low, thus confirming the strengthening of bearish pressure on the price of SafeMoon. After that, we have to see a further pullback to a new low. Potential lower targets are the 0.00001600 and 0.00001400 levels.
Litecoin chart analysis
The Litecoin price recovered today to the $62.60 level. We managed to continue yesterday’s bullish consolidation and climb above the EMA 50 moving average. All indicators say that we should see further growth on the bullish side and a visit to higher levels. Potential higher targets are the $63.00 and $64.00 levels. We will test the EMA 200 moving average in the $63.60 zone.
For a bearish option, we need a negative consolidation and pullback below $62.00 to start. This will bring Litecoin back below the EMA 50, which will increase the bearish pressure. After that, the price remains to start a pullback and test yesterday’s support levels. Potential lower targets are $61.00 and $60.00 levels.
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