- SafeMoon price is still under downward pressure today.
- Yesterday, we saw the price of Litecoin fall to a new low of $63.13.
SafeMoon chart analysis
SafeMoon price is still under downward pressure today. The upward attempts he made yesterday to stabilize or move above the 0.00004000 level ended in failure. This led to a new bearish consolidation and the price falling to the 0.00003600 level. Additional downward pressure is created by the EMA200 moving average. This may lead to a breakout down and the formation of a new low for the price. Possible lower targets are 0.00003500 and 0.00003400 levels.
We need to get back above the 0.00003900 level to get a bullish option. Then we have to maintain above this level. We need a fresh bullish push to start an upward consolidation and retest the 0.00004000 level. A break above that would go a long way to helping us start further recovery. Possible higher targets are the 0.00004100 and 0.00004200 levels. We have to pay close attention to the 0.00004100 level because there we are facing the EMA200 moving average.
Litecoin chart analysis
Yesterday, we saw the price of Litecoin fall to a new low of $63.13. The decline stopped there, and Litecoin started to recover from there. We quickly rose above the $64.00 level and embarked on further positive consolidation that continues today. Today's high is at $66.00, and based on the current consolidation, we expect a breakout to the upside and further growth to the upside. Possible higher targets are $67.00 and $68.00 levels.
The EMA200 is in the area around $68.80 levels. A pullback below the $64.00 support level is required for a bearish option. Going back below that increases pressure on the price to continue falling. Possible lower targets are the $63.00 and $62.00 levels.
