Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

SafeMoon and Litecoin: Litecoin is trying to bounce back

SafeMoon and Litecoin: Litecoin is trying to bounce back

Yesterday, we saw the formation of a new SafeMoon weekly high at the 0.00003450 level. 
Yesterday’s Litecoin price movement took place in the $56.00-$59.00 range. 

SafeMoon chart analysis

Yesterday, we saw the formation of a new SafeMoon weekly high at the 0.00003450 level. We held up briefly, but a quick pullback to the 0.00003000 level followed. The price once again found itself below the EMA 200 moving average, which increased the pressure on it. This morning, we had another bullish attempt, which was stopped at the 0.00003200 level. The inability to hold above the EMA 200 pushed us below again, this time to the 0.00002780 level, a new daily low.

This gives us support for the bearish momentum, and we expect to see SafeMoon pull back to a new support level. Potential lower targets are the 0.00002700 and 0.00002600 levels. For a bullish option, we need a positive consolidation and a move back above 0.00003200. Then, we need to stabilize up there in order to continue on the bullish side. Potential higher targets are the 0.00003300 and 0.00003400 levels.

 

Litecoin chart analysis

Yesterday’s Litecoin price movement took place in the $56.00-$59.00 range. Today’s range is slightly moved up $57.30-$59.60. The EMA 50 moving average supports the price, and the expectation is to see further recovery of Litecoin. With growth above $60.00, the price could initiate a more specific bullish consolidation towards higher levels.

Potential higher targets are $62.00 and $64.00 levels. Additional resistance could be found in the EMA 200 moving average in the $64.00 zone. For a bearish option, we need a negative consolidation and a pullback of Litecoin back to the $56.00 level. With this, we will form a new daily low and get confirmation that we are turning to the bearish side. Potential lower targets are $54.00 and $52.00 levels.

 

The post SafeMoon and Litecoin: Litecoin is trying to bounce back appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com