SafeMoon and Litecoin: Litecoin closed yesterday at $76.76
The price of SafeMoon continued the previous lateral consolidation at the start of this week.
Over the weekend, the price of Litecoin hovered in the $70.00-$72.00 range.
SafeMoon chart analysis
The price of SafeMoon continued the previous lateral consolidation at the start of this week. Yesterday, we saw an impulse to the 0.00003548 level, where the weekly high was formed. After that, the price loses momentum and initiates a bearish consolidation to support at the 0.00003390 level. Today’s movement is quite calm and takes place in the 0.00003390-0.00003430 range. We need momentum above 0.00003440 to move above the EMA 200 moving average.
If we succeed in this, we can hope for a bullish impulse and further growth in the price of SafeMoon. Potential higher targets are 0.00003500 and 0.00003550 levels. With a break below this morning’s support, the price would form a new daily low, thereby confirming the pressure on the chart. After that, we expect a further pullback and a visit to lower levels. Potential lower targets are 0.00003300 and 0.00003250 levels.
Litecoin chart analysis
Over the weekend, the price of Litecoin hovered in the $70.00-$72.00 range. With the start of this week, the price gains momentum and starts a bullish consolidation to the $76.76 level on Monday, forming a new weekly high. We held up for a short time because the price did not have the strength to continue. A bearish consolidation and pullback to the $73.50 level has been initiated. We encountered the EMA 50 moving average in that zone, which stopped further retreat.
Litecoin is now trying to consolidate and initiate a new bullish consolidation. If it fails, it will have to pull back below the EMA 50 and look for new support. Potential lower targets are $72.00 and $71.00 levels. If it stabilizes above the $74.00 level, the price will have an opportunity to continue above the $75.00 level. Potential higher targets are $76.00 and $77.00 levels.
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