SafeMoon and Litecoin: Litecoin fails to break above $66.00

SafeMoon chart analysis

The price of SafeMoon is currently retreating from yesterday’s high. However, we’ve found solid support at the 0.00003100 level and the EMA 200 moving average. This should provide a sense of security. If we can maintain this support, it could signal the start of a new positive consolidation above the 0.00003200 level. Higher targets to keep an eye on are 0.00003300 and 0.00003400 levels.

On the other hand, a negative consolidation and a drop below the EMA 200 moving average and the 0.00003100 level could signal a bearish option. If this scenario unfolds, we could be under pressure to continue the retreat. At the 0.00002960 level, we will test the weekly open price and the support from the beginning of the week. Lower targets to consider are the 0.00002900 and 0.00002800 levels.

Litecoin chart analysis

This week, the price of Litecoin is under pressure below the $66.00 level. The EMA 200 moving average provides additional resistance in that zone, increasing the pressure on the price. On the downside, we have support from the EMA 50 moving average, a key factor in our analysis, and we will see which line holds longer. With the impulse above, we go to a new weekly high and extend the bullish option, providing a comprehensive view of the situation.

Potential higher targets are $67.00 and $68.00 levels. We need a negative consolidation and a drop below the $64.00 level for a bearish option. With that, we go to a new daily low and confirm the bearish momentum. The price could continue to retreat towards the weekly open price. Potential lower targets are $63.00 and $62.00 levels.

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