SafeMoon and Litecoin: Litecoin recovers to 94.00 level
- SafeMoon’s price remains under pressure from the EMA50 moving average.
- Today, we see the recovery of LItecoin from 89.30 to 94.00 level.
SafeMoon chart analysis
SafeMoon’s price remains under pressure from the EMA50 moving average. This leads to the continuation of the bearish trend and the formation of a new low. This morning, we retested the 0.0001760 support level. After that, we see a recovery to the 0.0001800 level, where we encounter new resistance and start another pullback.
We need a negative consolidation and a drop to the previous support zone for a bearish option. A break below would mean the price continues to slide and will likely visit new lower levels. Potential lower targets are the 0.0001740 and 0.0001720 levels.
We need a positive consolidation and a return to the zone around the 0.0001800 level for a bullish option. Then, we need a break above to break the EMA50 moving average. After that, we could expect to see continued price recovery. Potential higher targets are the 0.0001820 and 0.0001840 levels.
Litecoin chart analysis
Today, we see the recovery of LItecoin from 89.30 to 94.00 level. This is today’s high, and the price has retreated to the 92.00 support level. In the previous two hours, we see a positive consolidation and recovery to 93.00. If this consolidation continues, we could retest 94.00 and possibly make the price break above.
In the zone around the 95.00 level, we encounter the EMA50 moving average, and to continue to the bullish side, we need to move above it. Potential higher targets are 96.00 and 97.00 levels. We need a negative consolidation and price decline to the 90.00 support level for a bearish option. A break below would add pressure on the price, negatively affecting and even lowering it. Potential lower targets are 89.00 and 88.00 levels.
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