SafeMoon Price Analysis: Could Reach 0.00003700 Soon?

The price of SafeMoon continues its retreat today, falling to a new low at the 0.00003223 level. The price of Litecoin successfully managed to stay above the $67.75 level yesterday and initiated a bullish consolidation.

SafeMoon chart analysis

The price of SafeMoon continues its retreat today, falling to a new low at the 0.00003223 level. We remain under bearish pressure below the EMA200 moving average, which means that we could go down to even lower levels. Potential lower targets are the 0.00003200 and 0.00003100 levels.

We need a new positive consolidation and a rise to the 0.00003700 resistance level for a bullish option. In that zone, we encounter the EMA200 moving average and get a new opportunity to test that resistance.

With a move above them, the picture changes drastically in favour of SafeMoon, and we could see a more concrete recovery on the bullish side. Potential higher targets are 0.00003800 and 0.00003900 levels.

Litecoin chart analysis

The price of Litecoin successfully managed to stay above the $67.75 level yesterday and initiated a bullish consolidation. We got additional support in that zone in the EMA200 moving average, reinforcing the bullish trend.

The price formed a higher high this morning at the $69.00 level. After that, we see a slight pullback to support at the $68.50 level. We are currently above that level and expect to see a continuation to the bullish side.

A break above would mean we have the strength for further recovery, and the potential higher targets are $69.20 and $69.40. We need a negative consolidation and pullback below the $68.50 support level for a bearish option.

There would be an increase in bearish momentum and pressure on the price to seek support at lower levels. Potential lower targets are $68.40 and $68.20 levels. The EMA200 moving average is in the zone around the $68.00 level.

 

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