SafeMoon and Litecoin: LItecoin drops below the $82.00 level

The SafeMoon price dropped below the EMA200 moving average, forming a new low at the 0.00004650 level. 
Yesterday’s bullish consolidation of Litecoin did not last because we saw a break and fall to the $81.88 level this morning. 

SafeMoon chart analysis

The SafeMoon price dropped below the EMA200 moving average, forming a new low at the 0.00004650 level. The morning movement continued in the same direction, 0.00004650-0.00004850 range. We are still under pressure from the EMA200, which could initiate bearish consolidation and a drop to a new daily low. Potential lower targets are the 0.00004600 and 0.00004500 levels.

We need a positive consolidation and movement of SafeMoon price above EMA200 and 0.00004900 level for a bullish option. After that, we need to stabilize there so that we have the opportunity to start a new bullish impulse. Potential higher targets are the 0.00005000 and 0.00005100 levels. This week’s high price is at the 0.00005485 level.

 

Litecoin chart analysis

Yesterday’s bullish consolidation of Litecoin did not last because we saw a break and fall to the $81.88 level this morning. The previous bullish formation and the EMA50 moving average were broken, and a new weekly low was formed. The price has recovered slightly since then to $82.30, remaining under bearish pressure. This could trigger a new pullback and form a new lower low.

Potential lower targets are $81.504 and $81.00 levels. We need a positive consolidation and a return to the $83.00 level for a bullish option. With that step, we would start the recovery, and Litecoin would move out of the uncomfortable zone. Potential higher targets are $83.50 and $84.00 levels. The EMA200 moving average is a step above in the $84.25 zone.

 

 

The post SafeMoon and Litecoin: LItecoin drops below the $82.00 level appeared first on FinanceBrokerage.