- Yesterday SafeMoon price managed to rise to the EMA50 moving average in the area around 0.00005100.
- Today we see a stable Litecoin price movement above the 70.00 level.
SafeMoon Chart Analysis
Yesterday SafeMoon price managed to rise to the EMA50 moving average in the area around 0.00005100. For now, we pause in that area and pull back slightly towards the 0.00005000 level. We spent the entire November below the EMA50 moving average and now we have the opportunity to break above it and start a recovery towards higher levels. The highest possible targets are the 0.00005200 and 0.00005300 levels.
We need a negative consolidation and a pullback to the 0.00004900 level for a bearish option. This is where we would find the first potential support. A drop below would confirm a bearish presence on the chart with a trend to continue towards the bearish side. Possible lower targets are the 0.00004800 and 0.00004700 levels.
Litecoin Chart Analysis
Today we see a stable Litecoin price movement above the 70.00 level. The EMA50 moving average provides additional support and we hope to soon see fresh bullish momentum and start continuing on the bullish side. The highest potential targets are the 71.00 and 72.00 levels. That way we would retest Saturday’s previous high.
We need a negative consolidation and a price pullback to the 69.00 level for a bearish option. With that move, we would pull back above the EMA50 moving average, which would be interpreted negatively, and the expectation would be to see a pullback to a lower support level. The lowest possible targets are the levels 68.50 and 68.00. A further fall below the 68.00 level would lead to the formation of a new low, confirming the bearish pressure on Litecoin price.
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