- SafeMoon price continues to move sideways in the range of 0.00004200-0.00004700
- Yesterday, we saw Litecoin price gaining support at the 65.00 level.
SafeMoon chart analysis
SafeMoon price continues to move sideways in the range of 0.00004200-0.00004700. Today's movement is closer to the lower support level. The price fails to approach the EMA50 and is moving to a safer area. For such a thing, we need to move above the 0.00004600 level. After that, we will be able to test 0.00004700 and try to continue higher.
Possible higher targets are the 0.00004800 and 0.00004900 levels. We need a negative reinforcement to the 0.00004200 support level for a bearish option. As we pull back lower, we will see a new low forming for this year. Possible minimum targets are 0.00004100 and 0.00004000.
Litecoin chart analysis
Yesterday, we saw Litecoin price gaining support at the 65.00 level. With the ensuing bullish consolidation, the price rose to the 68.00 level. Currently, we are testing the EMA50 and need a stronger upward push to stimulate a more realistic bullish recovery. Possible higher targets are 69.00 and 70.00. A move above 70.00 would constitute an important step towards a more stable upside option.
We need a negative consolidation and a pullback to the previous support at 65.00 for a bearish option. Failure to hold above it leads to a decline downward and the formation of a new bottom that confirms the bearish scenario. Possible lower targets are 63.00 and 62.00 levels. The lowest price for this week was on Monday at 60.00.
