SafeMoon and Litecoin: Litecoin is holding at 63.00

• Yesterday, we first saw the SafeMoon price jump to the 0.0001574 level.
• Yesterday, the price of Litecoin fell to the $61.60 level, forming a new lower low.

SafeMoon chart analysis

Yesterday, we first saw the SafeMoon price jump to the 0.0001574 level. That’s how we formed the new two-month high price of SafeMoon. We stayed there for a short time because we soon saw the pullback down to the 0.0001400 level this morning. Now, here we test the support of the EMA50 moving average, which has been on the bullish side for two weeks, supporting us in further recovery.

Now, we need another positive consolidation in order to move to the bullish side again. Potential higher targets are 0.0001440 and 0.0001460 levels. We need a negative consolidation and a drop below the EMA50 and 0.0001400 support level for a bearish option. Such a move would increase the bearish pressure and could trigger a continuation of the retreat to lower levels. Potential lower targets are the 0.0001380 and 0.0001360 levels.

Litecoin chart analysis

Yesterday, the price of Litecoin fell to the $61.60 level, forming a new lower low. After that, we see a return to the zone around the $63.00 level. The price tried to move to the bullish side with two impulses, but it was stopped at the $63.70 level. Soon, a new bearish consolidation was initiated and a new pullback of the Litecoin price to the $93.00 level. Increased pressure at this level could lead to a breakout below and the formation of a new today’s low. Potential lower targets are $62.50 and $62.00 levels.

We need a positive consolidation and a jump to the $64.00 level for a bullish option. Then, it is necessary to maintain up there in order to start a further bullish consolidation. Potential higher targets are $64.50 and $65.00 levels. We could have additional pressure at $64.50 in the EMA50 moving average.

The post SafeMoon and Litecoin: Litecoin is holding at 63.00 appeared first on FinanceBrokerage.