SafeMoon and Litecoin: Litecoin on a bullish run this week
- The price of SafeMoon has slowly stabilized above the EMA 200 moving average.
- LItecoin continued the previous bullish formation this morning, climbing to a new weekly high at the $64.16 level.
SafeMoon chart analysis
The price of SafeMoon has slowly stabilized above the EMA 200 moving average. After this morning’s consolidation at 0.00003150, we saw a bullish impulse to the 0.00003250 level. Now, the price is at 0.00003200, and we will try to form a new low here. If SafeMoon succeeds in this, it could start a new positive consolidation and skip the previous high.
Potential higher targets are 0.00003300 and 0.00003350 levels. For a bearish option, we need a negative consolidation and a descent of SafeMoon to the 0.00003150 support level. This brings us back below the EMA 200 moving average, which increases the bearish pressure on the price to start a further pullback. Potential lower targets are the 0.00003100 and 0.00003000 levels. We will test the weekly open price at 0.00003000.
Litecoin chart analysis
LItecoin continued the previous bullish formation this morning, climbing to a new weekly high at the $64.16 level. After that, we saw a slight pullback to support at the 63.50 level. Litecoin’s movement looks stable, and we could see a continuation to the bullish side. With a return above $64.00, we will be close to testing the previous high. With a new impulse, the price could climb to a new high and form a new weekly high.
Potential higher targets are $64.50 and $65.00 levels. For a bearish option, we need a negative consolidation and a drop in Litecoin price down to the $63.00 level. This is where we return to yesterday’s support zone. New pressure today could force the price to move below to a new low. Potential lower targets are $62.50 and $62.00 levels.
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