SafeMoon and Litecoin: LItecoin is approaching a new high

SafeMoon chart analysis

Today’s price movement of SafeMoon takes place in the 0.00003100-0.00003170 range. The chart is quite calm, and we are moving up and down around the EMA 200 moving average. We can expect to see a new bullish impulse, similar to the beginning of the week. With a jump to the 0.00003300 level, we will climb to a new daily high and surpass yesterday’s high. With that, SafeMoon should initiate further bullish consolidation and relieve the pressure of the EMA 200 moving average.

Potential higher targets are the 0.00003400 and 0.00003500 levels. For a bearish option, we need a negative consolidation and price pullback below the 0.00003100 level. This would bring us to a new daily low and confirm that we are turning to the bearish side. Potential lower targets are the 0.00003000 and 0.00002900 levels. We are rooting for the bullish option as the support looks very stable and promising.

Litecoin chart analysis

Litecoin’s price may soon break the $65.00 barrier. Today, that level represents resistance and we need an impulse above it in order to climb to a new weekly high. If the price succeeds in this, it will strengthen the current bullish momentum. After that, Litecoin will continue its bullish trend. Potential higher targets are the $65.50 and $66.00 levels.

For a bearish option, we need a negative consolidation of the Litecoin price back to this morning’s low at $63.50. There we will again look for support in the EMA 50 moving average. This time, an impulse below could occur that would increase the pressure on the price to start a further pullback. Potential lower targets are $63.00 and $62.50 levels.

The post SafeMoon and Litecoin: LItecoin is approaching a new high appeared first on FinanceBrokerage.