SafeMoon and Litecoin: Litecoin is trying to break $80.00

SafeMoon chart analysis

The price of SafeMoon is slowly returning to the bullish side, stabilizing above the 0.00005000 level. We have also received support from the EMA50 moving average and are freed from bearish pressure. We expect to see further growth above the 0.00006000 level. We returned above the weekly open price to the positive side. Potential higher targets are the 0.00006500 and 0.00007000 levels.

The EMA200 moving average is up in the zone around the 0.00007300 level. For a bearish option, we need a negative consolidation and pullback to yesterday’s support at the 0.00004500 level. This puts pressure on the weekly low. This could lead to a drop to a new one and a continuation to the bearish side. Potential lower targets are the 0.00004000 and 0.00003500 levels.

Litecoin chart analysis

The price of Litecoin continues to move below the $80.00 level. We saw a pullback to a new weekly low at $75.37 yesterday. From that support level, the price initiates a bullish consolidation and makes a high at $80.50. We failed to hold above it, and a pullback to the $78.00 level followed. We are back below the EMA50 moving average and thus only intensify the bearish pressure.

This could trigger a bearish consolidation and drop the price of Litecoin to a new weekly low. Potential lower targets are $77.00 and $76.00 levels. We need an impulse to the $81.00 level for a bullish option. With this, we climb to a two-day high, which increases optimism for further recovery. Potential higher targets are $82.00 and $83.00 levels.

The post SafeMoon and Litecoin: Litecoin is trying to break $80.00 appeared first on FinanceBrokerage.