SafeMoon and Litecoin: Litecoin is getting closer to $95.00

SafeMoon chart analysis

Last night, SafeMoon dropped to a new weekly low at the 0.00008604 level. We retook under pressure below the EMA200 moving average. After the bottom formation, we consolidated and moved back above the EMA200 and 0.00010000 levels. In the last couple of hours, the price starts a bullish consolidation and rises to the 0.00011000 level. We need a continuation to test this week’s resistance zone at 0.00012000.

Potential higher targets are the 0.00013000 and 0.00014000 levels. We need a pullback below 0.00010000 and the EMA200 for a bearish option. Thus, we move to the bearish side, and there is an increase in the pressure on the price to start a further decline to lower support levels. Potential lower targets are the 0.00009000 and 0.00008000 levels.

Litecoin chart analysis

This morning, the price of Litecoin fell to a new weekly low of $95.54. We are still under bearish pressure even though we have support at that level. Price recovery is limited as we have resistance at the $98.00 level, and this leads us to move in the $96.00-$98.00 range. Due to the impossibility of forming a new high, the chances of seeing a drop to a new weekly low increase. Thus, we continue the previous bearish picture, and Litecoin goes to lower levels.

Potential lower targets are the $95.00 and $94.00 levels. We need to stabilize above the $98.00 level for a bullish option. After that, it is possible to start a positive consolidation for recovery to the bullish side. Potential higher targets are $99.00 and $100.00 levels. Additional price resistance in the zone around $100.00 is the EMA200 moving average.

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