SafeMoon and Litecoin: LItecoin puts pressure on 67.00
We are currently seeing the formation of a new high price of SafeMoon at the 0.0002075 level.
Litecoin price is in retreat compared to yesterday. Yesterday, we formed a high at the 70.50 level, where we encountered resistance.
SafeMoon chart analysis
We are currently seeing the formation of a new high price of SafeMoon at the 0.0002075 level. The price continues the previous bullish consolidation, climbing to a three-month high. Now, we are experiencing a stall at that level and a pullback to the 0.0002050 level.
We may see a drop to the 0.0002000 level, as we could expect more concrete support there. At that level, we would form a new bottom from which we start the continuation of the recovery.
Potential higher targets are the 0.0002100 and 0.0002150 levels. For a bearish option, we need a negative consolidation and a drop below the 0.0002000 support level. A pullback below would lead to the formation of a new daily low, which could initiate a continuation to the bearish side. Potential lower targets are the 0.0001950 and 0.0001900 levels.
Litecoin chart analysis
Litecoin price is in retreat compared to yesterday. Yesterday, we formed a high at the 70.50 level, where we encountered resistance. After that, we saw a bearish consolidation and pullback today to the 67.10 level. Additional pressure in this zone creates the EMA50 moving average.
If we get its support, we expect to see a bullish consolidation and a return above the 69.00 level. Then we would have to stay up there and form a bottom there from which we would start further recovery.
Potential higher targets are 70.00 and 70.50 levels. For a bearish option, we need a negative consolidation and a drop in Litecoin price below the 67.00 level. This would form a new low, and we would receive confirmation of the bearish option. Potential lower targets are 66.50 and 66.00 levels.
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