SafeMoon and Litecoin: SafeMoon drops to 0.00004758  level

SafeMoon chart analysis

The SafeMoon price tried to bounce and stay above the EMA200 moving average yesterday. It succeeded, but for a short time, only up to the 0.00005400 level. The joy was short-lived as we saw a pullback from a couple of bearish impulses to a new low at the 0.00004785 level. After that, the price returned to the 0.00005000 level and is now consolidating in that zone. Price pressure is still present, which could produce a new bearish impulse.

Potential lower targets are the 0.00004900 and 0.00004800 levels. We need a move above the 0.00005100 level for a bullish option first. This moves us above the EMA50 moving average, and we hope for its support. Potential higher targets are 0.00005200 and 0.00005300 levels. In the 0.00005250 zone, we will again have the opportunity to test the EMA200 moving average.

Litecoin chart analysis

Yesterday, we had a pullback in the price of Litecoin to the $84.86 level. We are in a bearish trend for the third day after Monday’s jump to $89.63. today’s movement is in the $85.00-$87.00 range. On the upside, we are pressured by the EMA50 moving average. A slight bullish consolidation in the last few hours could make us exceed the EMA50 and $87.00 levels. 

If we succeed in this, potential higher targets are $88.00 and $89.00 levels. An increase in bearish pressure could drop us below the daily open price of $85.75. Revisiting that zone could negatively affect further movement. A new impulse below pushes the price to a new daily low and moves it to the negative side. Potential lower targets are $85.00 and $84.00 levels.

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