Connect with us

Hi, what are you looking for?

Economy

SafeMoon Slides to 0.00002800: Is it Still Worth Investing?

SafeMoon Slides to 0.00002800: Is it Still Worth Investing?

Last week’s fall of SafeMoon to the 0.00002900 level continues to keep the price in shock Over the weekend, the price of Litecoin managed to gain support at the $70.00 level and climb up to the $73.00 level.

SafeMoon chart analysis

Last week’s fall of SafeMoon to the 0.00002900 level continues to keep the price in shock. We have seen movement in the 0.00002900-0.00003400 range in the previous four days. The weekend was relatively uninteresting as we moved in the lateral range. Monday brought more volatility and a bearish impulse to a new low at the 0.00002800 level. It was all short-lived, and the price bounced back above the 0.00003000 level.

After that, we saw a bullish impulse and a jump to the 0.00003600 level. Then, we return again to the previous movement zone. Today’s movement occurred around the 0.00003000 level, and we are now looking at a slight recovery to the 0.00003100 level. About the zone around the 0.00003300 level, we have additional resistance in the EMA200, which would be an obstacle for us to make a more specific break and attempt to recover. Potential lower targets are the 0.00002800 and 0.00002700 levels.

Litecoin chart analysis

Over the weekend, the price of Litecoin managed to gain support at the $70.00 level and climb up to the $73.00 level. Then there was a pullback yesterday to $70.50 where we are getting support again. After forming a bottom at that level, the price starts a bullish consolidation and rises to $73.45, where we form a new price high. We stop there and return to new support at the $71.90 level.

Litecoin forms a higher low there and, from there, starts a bullish consolidation up to the $72.70 level. Potential higher targets are $73.00 and $73.50 levels. We need a negative consolidation and pullback below today’s low at $71.90 for a bearish option. A drop below would form a new low and thus confirm a bearish option. Potential entry targets are the $71.00 and $70.50 levels.

The post SafeMoon Slides to 0.00002800: Is it Still Worth Investing? appeared first on FinanceBrokerage.

You May Also Like

Latest News

President Biden is asking Congress to approve nearly $100 billion in emergency funding to aid recovery efforts for the recent deadly storms that ravaged...

Latest News

Activists on Saturday demanded that the state of California pay millions of dollars to each Black resident in reparations as a way to make...

Stock

One hallmark of secular bull markets is rotation. When leading stocks, sectors, and industry groups falter, there needs to be others that grab the...

Latest News

Vice President Kamala Harris spent a whopping $1.5 billion during her 15-week campaign that ended in defeat to President-elect Donald Trump, including burning through...



Disclaimer: Frequencytraders.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 Frequencytraders.com