SafeMoon and LItecoin: Litecoin falls to a new low at 72.72

SafeMoon chart analysis

SafeMoon’s price dropped to 0.0001530 levels this morning. There was no significant recovery, and now we are still in the support zone. We could expect to see the continuation of negative consolidation and the formation of a new lower low. Potential lower targets are the 0.0001520 and 0.0001500 levels.

For a bullish option, we need a new positive consolidation and price return to the 0.0001580 level. Then, it would be necessary to try to maintain above it and to initiate a continuation to the bullish side with the next impulse. Potential higher targets are the 0.0001600 and 0.0001620 levels. The EMA50 moving average is now at the distant 0.0001700 level.

Litecoin chart analysis

Litecoin continues today with bearish consolidation, retreating to 72.72 levels. The price manages to get support at that level and makes a recovery to the 75.75 level. For now, we have minor resistance at that level and need a break above to continue the recovery. Then, we would have to hold above there and start a bullish trend with a positive consolidation. Potential higher targets are 76.00 and 77.00 levels.

We need a negative consolidation and a new pullback below the 73.00 level for a bearish option. A fall below would lead to the formation of a new low, and thus, we would confirm the bearish trend. Potential lower targets are 72.00 and 71.00 levels.

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