- SafeMoon price rose to a new high this year at 0.00005249 on Sunday.
- Litecoin price fell to 61.10 levels on Monday.
SafeMoon chart analysis
SafeMoon price rose to a new high this year at 0.00005249 on Sunday. This was followed by a bearish consolidation and yesterday's decline to the 0.00004208 level. We find support in that area and start a recovery that takes us above the EMA50 to the 0.00004700 level. We failed to hold in that area, and a pullback to the 0.00004500 level followed. If the current downward pressure continues, we could fall to a new daily low.
Possible lower targets are the 0.00004400 and 0.00004300 levels. To get a bullish option, we need to move above the 0.00004800 level. After that, we need to hold above that level in order to form a bottom from which we can move to further growth on the upside. Possible higher targets are the 0.00004900 and 0.00005000 levels.
Litecoin chart analysis
Litecoin price fell to 61.10 levels on Monday. This is where we formed this week's low and gained support to initiate a bullish option. This bullish consolidation took us this morning to 68.44 levels and above the EMA50. We failed to hold above that level, and a pullback to the 66.00 level followed. The price is now under pressure to start further decline and form a new daily low.
Possible lower targets are 65.00 and 64.00 levels. We would have to get back above the EMA50 and 68.00 levels to get a bullish option. Then we have to maintain above those levels. If we can do that, we will be in a good position to continue going up. Possible higher targets are 69.00 and 70.00 levels.
