SafeMoon and Litecoin: LItecoin is holding above $74.00
Last Monday, the price of SafeMoon fell to 0.00002771 levels. The Litecoin price retreated to the $67.50 level last week.SafeMoon chart analysis
Last Monday, the price of SafeMoon fell to 0.00002771 levels. It was very close to testing the April low at 0.00002687. Fortunately, the price found support at that level and initiated a bullish consolidation that lasted until Friday at 0.00003799. Further above, we had no strength, and a retreat was started from there. A quick pullback to 0.00003350 and the EMA200 moving average followed.
On Saturday SafeMoon breaks below and continues to slide until Monday and support at the 0.00003000 level. After that, the price recovers, forming today’s high at the 0.00003380 level. The EMA200 pressure seems to be too much, as we are back below again. Now, it is important to see where the new support will be because if the movement in this zone is prolonged, a new bearish impulse will follow. Potential lower targets are 0.00003000 and 0.00002900 levels.
Litecoin chart analysis
The Litecoin price retreated to the $67.50 level last week. It received support at that level, after which a bullish consolidation was initiated that continues today. On Saturday, a new high was formed at the $76.76 level. After that, the price stabilized a bit and is moving in the $74.00-$76.00 range. On the downside, we have the support of the EMA200 moving average and expect to hold above it. A break above $76.00 increases the chances of a rally to a new weekly high.
Potential higher targets are $77.00 and $78.00 levels. We need a negative consolidation and a price drop below the $74.00 level for a bearish option. Once again, Litecoin is forced to test the EMA200 moving average support. The inability to hold above pushes us down to a new weekly low. Potential lower targets are $73.00 and $72.00 levels.
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