SafeMoon and Litecoin: Litecoin continues to recover

• Yesterday, we saw SafeMoon’s price jump to the 0.00005000 level.
• The price of Litecoin, with yesterday’s bullish consolidation, managed to reach 71.73 levels.

SafeMoon chart analysis

Yesterday, we saw SafeMoon’s price jump to the 0.00005000 level. We bounced off that level and went back down to the 0.00004500 level. Today, we saw a new attempt to reach 0.00005000, but the scenario was the same as yesterday, as a new pullback to the 0.00004600 level followed. We are back in the EMA50 moving average zone and will try to gain its support.

If we succeed in that, we will have a new opportunity to test this week’s resistance zone once again. Potential higher targets are the 0.00005100 and 0.00005200 levels. We need a negative consolidation and pullback to the 0.00004400 support level for a bearish option. Here, we would be under more pressure to go on a further pullback and try to break the large 0.00004200-0.00004300 support zone.

Litecoin chart analysis

The price of Litecoin, with yesterday’s bullish consolidation, managed to reach 71.73 levels. This high was formed this morning; after that, we were in the 70.00-71.50 range, and now we are trying to break above and form a new one. It could easily happen that we see such a scenario soon. Potential higher targets are 72.00 and 73.00 levels.

We need a pullback below the 70.00 support level for a bearish option. With a break below, the price would be under pressure to continue falling to the next lower support. Potential lower targets are 69.00 and 68.00 levels. We get additional support in the EMA50 moving average in the zone around the 68.00 level.

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