- SafeMoon price continues yesterday’s bearish consolidation to the 0.00004700 level this morning.
- Litecoin price was concentrated around the 70.00 level in the previous two days.
SafeMoon Chart Analysis
SafeMoon price continues yesterday’s bearish consolidation to the 0.00004700 level this morning. A slight recovery takes us to the 0.00004850 level, trying to move away from this week’s low. We would have to go back to the 0.00005000 level and test the EMA50 moving average. A break above would give us the opportunity to start a greater recovery, opening higher levels.
The highest possible targets are the 0.00005100 and 0.00005200 levels. For a bearish option, we need a continuation of the previous negative consolidation and a new pullback to the support level 0.00004700. A break below would lead to the formation of a new low and thus we would get confirmation of the bearish momentum and a drop in SafeMoon price. Possible lower targets are the 0.00004600 and 0.00004500 levels.
Litecoin Chart Analysis
Litecoin price was concentrated around the 70.00 level in the previous two days. In that area we test the EMA50 moving average, which further complicates the situation for Litecoin. We need to overcome this resistance to have a chance to continue to the bullish side. The highest potential targets are the 70.50 and 71.00 levels.
It would be best to have a break below the 69.00 support level for a bearish option. Then, with a negative consolidation, we would continue the pullback, testing this week’s low in the area around the 68.00 level. A break below this zone leads to a new low and thus confirms the bearish pressure on the Litecoin price. The lowest possible targets are the levels 67.50 and 67.00.
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