SafeMoon and Litecoin: Litecoin is bearish since Friday
SafeMoon’s price has moved away from the previous bullish trend by falling below 0.0001000 and the EMA200 moving average last week.
The inability of Litecoin to return above the $100.00 level has influenced us to start a pullback.
SafeMoon chart analysis
SafeMoon’s price has moved away from the previous bullish trend by falling below 0.0001000 and the EMA200 moving average last week. Over the weekend, we saw a continuation of the bearish consolidation and a drop on Sunday evening to the 0.00002687 level. After a promising March, April brings us a retreat and a return to the defensive. On Monday, SafeMoon recovered to the 0.00006000 level and a daily high was formed there.
From there, we initiate a bearish consolidation and move below the 0.00005000 level. The critical support level is 0.00004500. If we slip below that level, the price could easily go to a new lower low. Potential lower targets are 0.00004000 and 0.00003500 levels.
Litecoin chart analysis
The inability of Litecoin to return above the $100.00 level has influenced us to start a pullback. We saw the first bearish step on Friday, falling to $80.00. After that, on Saturday, we tried to maintain around the $85.00 level, but the price made a new bearish impulse and fell to the $70.83 level. With this, we form a new lower low in the last month. On Sunday, Litecoin recovers and climbs to the $83.00 level.
We stop there on Monday making another pullback to support at the $76.00 level. We form a higher low, and with positive consolidation, we grow to the $79.00 level. We need a continuation of this consolidation in order to move above the $80.00 level and start a further recovery to the bullish side. Potential higher targets are $82.00 and $84.00 levels.
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