SafeMoon Price Update: Above 0.00004000 and Consolidating
The price of SafeMoon is slowly but successfully breaking away from the bearish clutches.
Over the weekend, the price of Litecoin fell to $68.09.
SafeMoon chart analysis
The price of SafeMoon is slowly but successfully breaking away from the bearish clutches. On Monday, we saw a bullish impulse and a jump to the 0.00004206 level. After a long time, we managed to get back above the 0.0000400 level. Although we did not stay at that level for long, the price managed to stay above the EMA200 moving average, which did not allow us to move above it.
With yesterday’s jump, the price has made enough room to consolidate above the EMA200, so today, we are looking at a higher low at the 0.00003400 level above the moving average. With the bullish consolidation, we are now at the 0.00003630 level and expect to break above the 0.00003800 level. If we can do that, we will have empty space again to the previous high at 0.00004200.
Litecoin chart analysis
Over the weekend, the price of Litecoin fell to $68.09. After forming a new low, we consolidated and launched a recovery from that level. We returned above the $70.00 level on Sunday and the EMA200 moving average. This influenced the price to move into a bullish consolidation of $71.75. That’s where we meet the resistance, and today, we’re looking at a pullback that takes us down to the $69.50 level and below the EMA200.
We are currently under pressure to pullback and test lower support levels. Potential lower targets are $69.00 and $68.50 levels. If we were to move to the $71.00 level, the LItecoin price would return above the support and have an opportunity to start a recovery. Potential higher targets are $71.50 and $72.00 levels.
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