SafeMoon and Litecoin. Litecoin drops below $70.00 again
SafeMoon’s price dropped to 0.00003370 this morning, a new weekly low.
This morning, we saw a new decline in the Litecoin price below the $70.00 level.
SafeMoon chart analysis
SafeMoon’s price dropped to 0.00003370 this morning, a new weekly low. Before that, we saw a consolidation around 0.00003400 but failed to sustain above. The price broke below this morning and created this morning’s low. We are moving away from the EMA 200 moving average, which only adds to the bearish pressure. Potential lower targets are the 0.00003300 and 0.00003200 levels.
For a bullish option, the price of SafeMoon needs to return above the weekly open price of 0.000003422. We are moving into this week’s support zone and can hope for a recovery. With a bullish consolidation to 0.00003500, the price is climbing up to the EMA 200 moving average. Then, we will try to climb to a new daily high with the momentum above and thus show that we have the strength to return to the bullish side. Potential higher targets are 0.00003600 and 0.00003700.
Litecoin chart analysis
This morning, we saw a new decline in the Litecoin price below the $70.00 level. A new weekly low was formed at $68.22. After that, the price stabilized there and moved up to the $69.00 level. The picture is still bearish because we do not see a concrete bullish sign and are still in the support zone. A return to the $70.00 level would be very positive and encouraging for the price to start further recovery.
Potential higher targets are the $71.00 and $72.00 levels. The EMA 200 moving average provides additional resistance for Litecoin in the zone around $72.00. For a bearish option, we need a retest of this morning’s low. This confirms the bearish presence on the chart, and we can expect a further pullback. Potential lower targets are the $68.00 and $67.00 levels.
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