Economy 07-05-2024 11:02 5 Views

SafeMoon and Litecoin: Litecoin slips to support at $80.00

SafeMoon and Litecoin: Litecoin slips to support at $80.00

The price of SafeMoon continues to move around the EMA200 moving average.  Litecoin’s price rose to $84.23 level yesterday. 

SafeMoon chart analysis

The price of SafeMoon continues to move around the EMA200 moving average. Over the weekend we had a strong bullish impulse to the 0.00007388 level.

After that, we moved back down to the EMA200 and continued to hold in that zone. Yesterday, we saw increasing bearish pressure on the price sliding below and falling to a new weekly low last night at the 0.00005400 level.

Continuing the SafeMoon price action, we now see an attempt to test the EMA200 and the 0.00005950 level. We need another impulse to move above and release the bearish pressure.

Potential higher targets are 0.00006000 and 0.00006200 levels. We need a negative consolidation and pullback below 0.00005600 for a bearish option. With that step, we turn to the bearish side and expect to see further pullback. Potential lower targets are the 0.00005400 and 0.00005200 levels.

Litecoin chart analysis

Litecoin’s price rose to $84.23 level yesterday. With that, we rose to a new seven-day high. We stop at that level and initiate a bearish consolidation below $81.50.

Thus, we fall below the EMA200 moving average, which negatively affects further movement, and the price was forced to drop to the $80.00 level. For now, we have support at that level and are recovering slightly to the $80.60 level.

We need another push to $81.50 to retest the EMA200 moving average. With the return above, we are moving to the positive side and expect further growth and recovery.

Potential higher targets are $82.00 and $83.00 levels. If we break away from the EMA200 again, a new bearish consolidation and testing of the $80.00 level will follow. By moving below, we go to a new weekly low and increase the bearish pressure on Litecoin. Potential lower targets are $79.00 and $78.00 levels.

The post SafeMoon and Litecoin: Litecoin slips to support at $80.00 appeared first on FinanceBrokerage.

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