SafeMoon and Litecoin: Litecoin falls to the $78.39 level
This week’s bullish consolidation of SafeMoon was stopped yesterday at the 0.00005739 level.
Litecoin’s price returned below $80.00 yesterday.
SafeMoon chart analysis
This week, the bullish consolidation of SafeMoon, which had been gaining momentum, was abruptly halted at the 0.00005739 level. This marked a significant shift in the market sentiment, triggering a bearish consolidation this morning. As a result, we have now pulled back below the EMA200 moving average and are currently at the 0.00005500 level, below the weekly open price, indicating a negative trend. We anticipate a further pullback and the formation of a new daily low.
Potential lower targets are the 0.00005400 and 0.00005300 levels. We need to go back above the EMA200 and the 0.00005700 levels for a bullish option. Then, it is necessary to maintain the above in order to get the floor of the moving average for further recovery. Potential higher targets are 0.0005800 and 0.00005900 levels.
Litecoin chart analysis
Litecoin’s price experienced a significant shift yesterday, falling below $80.00. This was followed by a bearish consolidation that pushed the price down to the $78.39 level. Although the fall has halted, we are still operating within this zone. This morning, we saw a recovery attempt that was short-lived, stopping at the $79.00 level. Subsequently, the price pulled back to $78.50, exerting pressure on the weekly low. This suggests that we could soon witness an impulse that would lead to a new lower low.
Potential lower targets are $78.00 and $77.50 levels. We need a positive consolidation above the $79.00 level for a bullish option. After that, we need to continue to the $79.50 level. There, we are approaching the EMA50 at the $79.85 level, and we need a transition above to a more concrete recovery. Potential higher targets are $80.00 and $80.50 levels. EMA200 is in the $81.00 zone.
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