- Yesterday’s fall in the crypto market did not affect the price of SafeMoon much.
- The previous peaceful consolidation of the Litecoin price was disrupted yesterday by a bearish impulse and a drop below the 72.00 level.
SafeMoon chart analysis
Yesterday’s fall in the crypto market did not affect the price of SafeMoon much. The downside is that we fell below the EMA50 moving average and got support at the 0.00004209 level. Today’s picture is different, and we saw a strong bullish impulse and a price return above the EMA50. With that, we formed this week’s high at the 0.00005200 level. We stayed above briefly and are returning to the EMA50 at the 0.00004700 level.
With a positive consolidation, we would retest the breakout point and initiate a bullish recovery. Potential higher targets are the 0.00005000 and 0.00005200 levels. We need a drop below the moving average and the 0.00004600 level for a bearish option. After that, we would be able to test the previous low at the 0.00004400 level. Potential lower targets are 0.00004300 and 0.00004200 levels.
Litecoin chart analysis
The previous peaceful consolidation of the Litecoin price was disrupted yesterday by a bearish impulse and a drop below the 72.00 level. This year’s low was formed at the 60.00 level. The price quickly finds support at that level and moves above the 64.00 level. Since then, we continue in the 64.00-66.00 range. The chart shows that the price is still under some bearish pressure, and we could revisit yesterday’s low. Potential lower targets are again at 62.00 and 60.00 levels.
For a bullish option, we need to move above the 66.00 level and hold above it. Thus, we would form this bottom from which we would have a better position for further recovery to the bullish side. Potential higher targets are 68.00 and 70.00 levels. EMA50 moving average is in the zone around 72.00 levels.
