SafeMoon and Litecoin: Litecoin fell to $68.93 this morning

SafeMoon’s price stabilized above the 0.00002900 level yesterday. The positive consolidation pushed the price to a new weekly high at 0.00003437. We stayed there for a short time, as a quick pullback below the 0.00003185 level followed. With that step, the price returned below the EMA200 and the weekly open price. Today’s movement is calm in the 0.00002900-0.00003070 range.

A mild bullish picture could trigger a new impulse and move us close to the previous resistance again. Potential higher targets are 0.00003300 and 0.00003400 levels. For a bearish option, we need a negative consolidation and a drop below the 0.00002900 level. SafeMoon will again be able to test the weekly low at the 0.00002850 level. Potential lower targets are the 0.00002800 and 0.00002700 levels.

Litecoin chart analysis

Yesterday, the price of Litecoin fell below the EMA200 moving average support. That step signaled a potential shift to the bearish side, which came true in the following hours. After a retest at the $75.00 level, the price started a bearish consolidation and broke the support at the $73.00 level. This morning, we had a strong bearish impulse and a drop below the $70.00 level to $68.93.

Litecoin first managed to stop there and gain support resulting in a recovery to $70.50. We had no further strength and the price turned again to the bearish side. Potential lower targets are $68.50 and $68.00 levels. We need a positive consolidation and growth to the $71.00 level for a bullish option. After that, the price must try to stay there in order to have a chance to start a further recovery. Potential higher targets are $71.50 and $72.00 levels.

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