SafeMoon and Litecoin: Litecoin to new weekly high of $87.40
SafeMoon’s price continued to move under pressure today, holding below the EMA200 moving average. Today, Litecoin climbed to its new weekly high at $87.39.SafeMoon chart analysis
SafeMoon’s price continued to move under pressure today, holding below the EMA200 moving average. On the downside, we are sitting at the 0.00006000 level and there are increasing chances to slide below to a new weekly low. Potential lower targets are the 0.00005500 and 0.00005000 levels.
For a bullish option, we need a positive consolidation and a move above the 0.00006500 level to start. If we start it, the next target is the 0.00007000 level and the EMA200 moving average.
By crossing above these levels, we can say that we have partially released the bearish pressure and that we can continue on the bullish side. Potential higher targets are 0.00007500 and 0.00008000 levels.
Litecoin chart analysis
Today, Litecoin climbed to its new weekly high at $87.39. This morning, we consolidated around the $85.00 level, after which a bullish consolidation was initiated. In that zone, we get support from the EMA50 moving average after yesterday’s EMA200 support at the $84.00 level. We expect to see further recovery and growth of Litecoin to new higher levels. Potential higher targets are $87.50 and $88.00 levels.
We need a negative consolidation and pullback below the $86.00 level for a bearish option. Thus, we move away from the previous bullish trend and turn towards the bearish side. After that, we expect to see a further pullback to the first support at $85.50 and the EMA50 moving average. Potential lower targets are $85.00 and $84.50 levels.
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