SafeMoon and Litecoin: Litecoin at the door of a new high
- This morning, we saw new volatility on the SafeMoon chart when the price pulled back to the 0.00001903 level
- This morning, we saw short-term volatility in the Litecoin price
SafeMoon chart analysis
This morning, we saw new volatility on the SafeMoon chart when the price pulled back to the 0.00001903 level. This was followed by consolidation in that area. Later, we saw two bullish impulses and a jump to the 0.00002100 level. That brought us back above the daily open price to the positive side, and now we need to hold on here to create a new opportunity for further recovery.
Potential higher targets are 0.00002200 and 0.00002300. A great success for SafeMoon would be a return above the weekly open price and the 0.00002300 level. We would have another support at that level in the EMA 50 moving average. For a bearish option, we need another pullback to this morning’s support at 0.00001900. This time, we need a breakout below and the formation of a daily low. Potential lower targets are 0.00001800 and 0.00001700.
Litecoin chart analysis
This morning, we saw short-term volatility in the Litecoin price. We had a bearish impulse and a drop to the $62.07 level. Shortly after that, the price moved back above $64.50 and the EMA 200 moving average. The previous bearish impulse had no effect, and we returned to the bullish side. Litecoin continued to grow and formed a daily high at the $66.20 level. We even came close to reaching the previous weekly high at $66.35.
Potential higher targets are $66.50 and $67.00 levels. For a bearish option, we need a negative consolidation and a price return below the $65.00 level. With this step, we would significantly move away from today’s high, which could increase the bearish momentum. Potential lower targets are $64.50 and $64.00 levels.
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