SafeMoon and Litecoin: Litecoin rose to $84.15 this morning

• SafeMoonâ€s price is persistently struggling to move above the EMA200 moving average.  
• Yesterday, we saw a pullback in the price of Litecoin to the $81.09 level.

SafeMoon chart analysis

SafeMoonâ€s price is persistently struggling to move above the EMA200 moving average. This morning, we witnessed a revisit to the weekly support level at the 0.00004400 level. Subsequently, the price initiated a positive consolidation and broke above the EMA200, forming a daily high at the 0.00004900 level. It is crucial to maintain above the EMA200 moving average to sustain the bullish momentum.

From there, we expect the initiation of a new positive consolidation and a jump in the price of SafeMoon to a new high. Potential higher targets are the 0.00005000 and 0.00005100 levels. We need a pullback below the EMA200 and 0.00004700 for a bearish option. Thus, we move to the bearish side and expect a new test of the weekly support at 0.00004400. Potential lower targets are the 0.00004300 and 0.00004200 levels.

 

Litecoin chart analysis

Turning to Litecoin, we observed a pullback in its price to the $81.09 level yesterday. However, the formation of the weekly low triggered a positive consolidation and recovery, pushing the price up to the $ 83.60 level by the end of the day. This morning, the recovery continued, reaching the $84.20 level, and we are currently consolidating in that zone. We have the support of the EMA200 moving average, and weâ€re hopeful that Litecoin will manage to hold above it.

Potential higher targets are $84.50 and $85.00 levels. For a bearish option, we need a negative consolidation below $83.50. With that step, we move below the EMA200, which increases the bearish pressure. After that, we test the weekly open price in the $83.00 zone. The impossibility to maintain even there will send us to a new daily low. Potential lower targets are $82.50 and $82.00 levels.

 

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