SafeMoon and Litecoin: Litecoin continues to move bullish
- The price of SafeMoon managed to recover yesterday afternoon and climb up to the 0.00002600 level
- The price of Litecoin managed to stabilize above the EMA 200 moving average yesterday, which had a positive effect on the continuation of the bullish trend
SafeMoon chart analysis
The price of SafeMoon managed to recover yesterday afternoon and climb up to the 0.00002600 level. We were close to jumping above the EMA 200 but did not have enough momentum for such a move. A further pullback to the 0.00002245 level followed. We also fell below the weekly open level, which puts us back on the bearish side and increases the pressure on SafeMoon. Potential lower targets are the 0.000002200 and 0.00002100 levels.
For a bullish option, we first need a return above the weekly open price. Then, we need to hold there in order to create a position to continue to the bullish side. After that, we expect to see a new bullish consolidation and climb to higher levels. Potential higher targets are the 0.00002400 and 0.00002500 levels.
Litecoin chart analysis
The price of Litecoin managed to stabilize above the EMA 200 moving average yesterday, which had a positive effect on the continuation of the bullish trend. This morning, we saw another confirmation of the moving average support, which triggered two bullish impulses and a jump to a new weekly high of $67.95. The bullish momentum is strong, and we expect to see further progress on the bullish side.
Potential higher targets are $68.00 and $69.00 levels. For a bearish option, we need a negative consolidation and a drop below the $67.00 level. With that step, we return to the previous bullish consolidation. Litecoin would thus lose part of the previous momentum and could go down again to the $65.00 level and the EMA 200 moving average. Potential lower targets are $64.00 and $63.00 levels.
The post SafeMoon and Litecoin: Litecoin continues to move bullish appeared first on FinanceBrokerage.
