SafeMoon and Litecoin: LItecoin in sideways consolidation
- Yesterday, SafeMoon’s price surged to the 0.00003609 level
- The Litecoin price stopped last week’s bullish trend on Sunday at the $68.16 level
SafeMoon chart analysis
Yesterday, SafeMoon’s price surged to the 0.00003609 level, marking a 10-day high. However, this was short-lived as a pullback to the EMA 200 moving average quickly followed. The price couldn’t hold this level either, leading to a sudden drop to 0.00003020. This morning, SafeMoon attempted to maintain a position above 0.00003170 and the 200 EMA. However, new bearish impulses led to another pullback to the 0.00003100 level, forming the daily low.
The price confirms that he does not have the strength to recover and will have to retreat. Potential lower targets are the 0.00003050 and 0.00003000 levels. For a bullish option, we need a positive consolidation and a return above the 0.00003200 level. Then, the price needs to stabilize there before the recovery continues. Potential higher targets are the 0.00003300 and 0.00003350 levels.
Litecoin chart analysis
The Litecoin price stopped last week’s bullish trend on Sunday at the $68.16 level. Since then, the movement has been in a sideways consolidation in the $66.00-$67.50 range. Price is under slight pressure as it fails to deal with this consolidation. We are now looking at testing the lower zone of this range, and a break below to a new low could easily occur. This will confirm the strengthening of the bearish option.
Potential lower targets are the $65.00 and $64.00 levels. We can expect additional support in the EMA 200 moving average at $65.00. For a bullish option, we need a positive consolidation and a jump above $67.00. With that step, the bullish momentum strengthens, and we could try to test the previous high. Potential higher targets are the $69.00 and $70.00 levels.
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