SafeMoon and Litecoin: SafeMoon slides lower and lower

SafeMoon chart analysis

Yesterday’s attempt by the SafeMoon price to hold above the EMA200 was unsuccessful. This led to an acceleration of the bearish impulse to a new weekly low at the 0.00002850 level. Below, we see a slight recovery to the 0.00002950 level. Today’s movement is in the 0.00002900-0.00003000 range. The price is quite calm, and we need an impulse in some direction to determine the next trend.

If we see a bearish impulse, we form a new lower low. Potential lower targets are the 0.00002800 and 0.00002700 levels. For a bullish option, we need a break above the 0.00003000 level. This creates a new daily high and exits the previous range. After that, SafeMoon will have the opportunity to start a bullish consolidation and start a recovery. Potential higher targets are 0.00003100 and 0.00003200 levels.

Litecoin chart analysis

The Litecoin price rose to $76.15 this morning, forming a weekly high there. After that, we encounter resistance in that zone and start withdrawing. The price finds new support at the $74.50 level and is successfully holding above that level for now. On the downside, around $74.20, we have EMA200 moving average support and expect Litecoin to have enough strength to hold above.

If it fails to do so, we will see a drop below $74.00 and a move to the bearish side. After that, we can only hope for further pullbacks and testing of lower support levels. Potential lower targets are $73.50 and $73.00 levels. We need a positive consolidation and a move above the $75.50 level for a bullish option. This moves us above the weekly open price and it will be easier for us to continue with the recovery. Potential higher targets are $76.00 and $76.50 levels.

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