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SafeMoon and Litecoin: Litecoin retreats below $65.00

Safemoon chart 1

SafeMoon and Litecoin: Litecoin retreats below $65.00

  • SafeMoon price pulled back to support at the 0.0001280 level yesterday.
  • Litecoin yesterday fell to a new seven-day low at $62.57.

SafeMoon chart analysis

SafeMoon price pulled back to support at the 0.0001280 level yesterday. From that level, we see the initiation of a bullish consolidation that continued today until the 0.0001320 level. If today’s consolidation continues, we could soon test yesterday’s high at 0.0001335. The price also has support in the EMA50 moving average, which further instils confidence in further recovery. Potential higher targets are 0.0001340 and 0.0001350 levels.

We need a negative consolidation and price pullback below the EMA50 and 0.0001310 levels for a bearish option. After that, we could expect to see a further pullback and a visit to lower support levels. Potential lower targets are 0.0001300 and 0.0001290 levels.

SafeMoon Chart Analysis

Litecoin chart analysis

Litecoin yesterday fell to a new seven-day low at $62.57. Fortunately, it quickly consolidated and climbed above the $63.50 level. After that, we see further positive consolidation with the formation of a high at the $65.00 level. Today, we tried again to break that level, but everything was unsuccessful, and Litecoin retreated to support at the $64.25 level.

The current pressure is in that zone, and a breakout below and a drop to the $64.00 level could occur. Then, we can expect the price to revisit previous lower support levels. Potential lower targets are $63.50 and $63.00 levels.

We need a positive consolidation and a new test of the $65.00 resistance level for a bullish option. A break above would indicate further progress to the bullish side. Potential higher targets are $65.50 and $66.00 levels.

Litecoin chart analysis

The post SafeMoon and Litecoin: Litecoin retreats below $65.00 appeared first on FinanceBrokerage.

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