Investing 08-05-2024 12:12 5 Views

SafeMoon and Litecoin: Litecoin under pressure below $81.50

SafeMoon and Litecoin: Litecoin under pressure below $81.50

This week’s SafeMoon price movement took place in the 0.00005400-0.00006400 range. 
Litecoin price is again under pressure at the $80.00 level.

SafeMoon chart analysis

This week’s SafeMoon price movement took place in the 0.00005400-0.00006400 range. We are now in the middle of this sideways channel at the 0.00005800 level below the EMA200 moving average. This morning, we had one bullish impulse up to the upper limit, but we stayed there for a short time, and a pullback followed. We are now bearish and expect a pullback down to the support line.

Potential lower targets are the 0.00005600 and 0.00005500 levels. For a bullish option, we need a positive consolidation and a move above the EMA200 and the 0.00006000 level. Then, we need to hold on there in order to form a new bottom. If we succeed in this, we will be in a good position to start the recovery. Potentially higher targets are the 0.00006200 and 0.00006300 levels.

Litecoin chart analysis

Litecoin price is again under pressure at the $80.00 level. Yesterday, we saw a bullish attempt that stopped at $82.65. From there, a bearish consolidation was initiated, which brought us below the EMA200 moving average and the $81.50 level. After that, we continued to pull back to the $73.90 level today.

The picture is still very bearish, and we can expect a drop to a new weekly low. Potential lower targets are $79.00 and $78.00 levels. We need a positive consolidation and a return above the EMA200 and the $81.50 level for a bullish option. After that, we have to hold our own up there if we plan to continue our recovery. Potentially higher targets are $83.00 and $84.00 levels.

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