SafeMoon and Litecoin: Litecoin recovers to the 75.00 level

SafeMoon chart analysis

Last Thursday, the price of SafeMoon fell to its all-time low at the 0.0000400 level. After that, we managed to get support, and for the fifth day in a row, we are moving in the 0.0000450-0.0000600 range.

In the last couple of hours, we have seen a bullish consolidation from the support zone, and now we are at the 0.0000530 level. We need a continuation of this consolidation to get back up near the 0.0000600 level.

A hold around that level could produce a breakout above and form a new high for the week. Potential higher targets are 0.0000650 and 0.0000700 levels. For a bearish option, we need a negative consolidation and a drop below the 0.0000450 support level.

After that, we can test the 0.0000400 level again. Potential lower targets are 0.0000350 and 0.0000300 levels.

Litecoin chart analysis

This week’s Litecoin price high is the 75.00 level. During the previous weekend, we had a bullish impulse up to 75.88 levels, but literally in the next minute, the price dropped to 70.00 levels. After that, we started a bullish consolidation that took us up to 75.00 levels yesterday. We stop there, encounter resistance and start a pullback to support at the 72.60 level.

We managed to get support at that level and recover this time only up to 74.50 level. A new resistance awaited us in that zone, and we are starting another pullback, but now with a new low at the 72.35 level. This tells us that the price is under pressure and that we continue to pull back.

Potential lower targets are 72.00 and 71.50 levels. The EMA50 moving average is in the zone around 70.50-71.00, and there, we should expect greater support and stop further decline.

The post SafeMoon and Litecoin: Litecoin recovers to the 75.00 level appeared first on FinanceBrokerage.