- SafeMoon price continues with bearish consolidation, forming a historic low on Saturday at 0.00003518.
- During the week, Litecoin price faced resistance at the $72.73 level, and we failed to move above it.
SafeMoon chart analysis
SafeMoon price continues with bearish consolidation, forming a historic low on Saturday at 0.00003518. We then looked at the recovery attempt that stopped yesterday at the 0.00004205 level. The downward consolidation began again, and the price began to decline. By falling below the 0.00004000 level, we entered a critical zone that could generate a new low for the price.
Yesterday's low is 0.00003700, and possible lower levels are 0.00003600 and 0.00003500. If we were considering a bullish option, we would have to get back above the 0.00004000 level first. After some stability above this level, we can consider further recovery. Possible higher targets are the 0.00004100 and 0.00004200 levels. The EMA200 moving average is located in the area around 0.00004200 levels.
Litecoin chart analysis
During the week, Litecoin price faced resistance at the $72.73 level, and we failed to move above it. Yesterday, we saw two attempts again, but everything failed, and the price started to decline. With two strong bearish impulses, we fell below the $70.00 level and the EMA200. The decline did not stop there, as it continued to drop the price of Litecoin to the level of $66.50. This morning we saw a recovery attempt that continued until the $68.40 level.
With new resistance in that area, Litecoin begins a new pullback, breaking yesterday's low and forming a new high at the $64.05 level. Possible lower targets are the $63.00 and $62.00 levels. For a bullish option, I need a new positive consolidation and a return above the $67.00 level. If we can achieve and maintain stability, we will have the opportunity to recover.
