SafeMoon and Litecoin: Litecoin remains below 70.00
The price of SafeMoon continues the bullish consolidation from last week, forming a new high at the 0.0001984 level.
On Friday, the price of Litecoin fell to the 66.00 level.
SafeMoon chart analysis
The price of SafeMoon continues the bullish consolidation from last week, forming a new high at the 0.0001984 level. The price encounters resistance there and pulls back to support at the 0.0001900 level.
From that level, we start a new positive consolidation and form this morning’s high at the 0.0001960 level. We then pull back to new support at the 0.0001915 level, expecting to initiate a bullish consolidation from that position and see SafeMoon’s price recover.
Potential higher targets are 0.0002000 and 0.0002050 levels. For a bearish option, we need a negative consolidation and pullback below the 0.0001900 level. A break below this support would see the price continue its retreat towards the EMA50 moving average. Potential lower targets are the 0.0001850 and 0.0001800 levels.
Litecoin chart analysis
On Friday, the price of Litecoin fell to the 66.00 level. After that, we see a bullish consolidation that has been going on for four days. An hour ago, the price rose to the 70.50 level and thus formed a six-day high price.
From that level, we see a slight pullback to 69.35, and we expect the pullback to stop in the zone around the $69.00 level. If we succeed in this, Litecoin could start a new bullish consolidation and climb again above the 70.00 level.
Potential higher targets are 71.00 and 72.00 levels. For a bearish option, we need a negative consolidation and pullback to the 68.00 support level. Additional support in that zone is the EMA50 moving average. A break below brings new pressure, and it is expected that we will see the price at lower levels. Potential lower targets are 67.00 and 66.00 levels.
The post SafeMoon and Litecoin: Litecoin remains below 70.00 appeared first on FinanceBrokerage.