- SafeMoon price continues to consolidate sideways in the 0.00002600-0.00002800 range
- Today, the bearish consolidation of Litecoin price continued to the $64.24 level, a new weekly low.
SafeMoon Chart Analysis
SafeMoon price continues to consolidate sideways in the 0.00002600-0.00002800 range. We are still under pressure from the 200 EMA and the weekly opening level. The price needs a strong bullish momentum to shake the chart and send Safemoon to a new weekly high. The highest potential targets are the 0.00003000 and 0.00003200 levels.
For a bearish option, it is important to stay below the 200 EMA. That will add to the bearish momentum and ensure that SafeMoon continues to retrace below the weekly low of 0.00002400. With that step, we will create a new one and confirm that the price is under bearish pressure. Possible lower targets are the 0.00002200 and 0.00002000 levels. Last week's low was at the level 0.00001266.
Litecoin Chart Analysis
Today, the bearish consolidation of Litecoin price continued to the $64.24 level, a new weekly low. The price is not strong enough to fight and overcome the 200 EMA. This led to a bearish consolidation and a drop to a new low. If we do not find support soon, we will see a continuation of the downtrend. The possible lower targets are the $64.00 and $63.50 levels.
For the bullish option, we need new support at the current level of $64.40. This would give Litecoin the opportunity to start a bullish consolidation and attempt to return above the $65.00 level. With the previous pullback, we will have the opportunity for a new rally to USD 65.50 and the 200 EMA. There we will test the 200 EMA and provide its support for a return to the bullish side. The possible highest targets are the $66.00 and $66.50 levels.
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