SafeMoon and Litecoin: SafeMoon is stable above EMA50

• The price of SafeMoon today continues with the previous lateral consolidation, but we see the presence of mild bearish pressure.
• The price of Litecoin successfully gained support at the 70.00 level, after which we saw a bullish movement.

SafeMoon chart analysis

The price of SafeMoon today continues with the previous lateral consolidation, but we see the presence of mild bearish pressure. This could influence us to go down to test the support at the 0.00006300 level. In that zone, we encounter the EMA50 moving average, which could provide support to the price. A break below would do the opposite, and the price would form a new low and start a further retreat.

Potential lower targets are the 0.00006000 and 0.00005500 levels. We need a positive consolidation at the 0.00007250 level for a bullish option. Then, we would have to move above and try to hold ourselves up there. If we succeed, we will have a good bottom from which we will continue on the bullish side. Potential higher targets are 0.00007500 and 0.00008000 levels.

Litecoin chart analysis

The price of Litecoin successfully gained support at the 70.00 level, after which we saw a bullish movement. That bullish consolidation took the price up to the 74.00 level. We have additional pressure in that zone in the EMA50 moving average, which brought us down to new support at 72.50. This forms a new price higher low and continues to the 74.00 level again. We need a break above for further continuation up and release from bearish pressure.

Potential higher targets are 74.50 and 75.00 levels. We would have to go down again to the 72.50 support level for a bearish option. A drop below would mean that the price is faltering and turning to the bearish side. Potential lower targets are 72.00 and 71.00 levels.

The post SafeMoon and Litecoin: SafeMoon is stable above EMA50 appeared first on FinanceBrokerage.