SafeMoon and Litecoin: Litecoin retreats below $70.00 again
- The price of SafeMoon continues to move in this week’s support zone around the 0.00003250 level.
- Litecoin price continued its retreat today, forming a new weekly low at $69.24.
SafeMoon chart analysis
The price of SafeMoon continues to move in this week’s support zone around the 0.00003250 level. Last night, a recovery attempt stopped at the 0.00003350 level. We tried to hold above the EMA 50 and the weekly open price but failed. The price started a bearish consolidation and retreated to the current level. This time, we could see an impulse below and a new weekly low formation.
Potential lower targets are the 0.00003200 and 0.00003150 levels. For a bullish option, we need a positive consolidation of the SafeMoon price up to the 0.00003350 level. There, we expect to get support from the EMA 50 moving average and continue on the bullish side. Potential higher targets are the 0.00003400 and 0.00003450 levels. In the 0.00003380 zone, the price encounters the EMA 200 moving average, which is a higher resistance to further recovery.
Litecoin chart analysis
Litecoin price continued its retreat today, forming a new weekly low at $69.24. For now, we are holding above that level and moving up to $70.00. If we get new support, we can initiate a bullish consolidation and return above $71.00, the weekly open price. Stabilizing the price up there would slow the pullback and slowly increase optimism for a possible recovery to the bullish side.
Potential higher targets are $72.00 and $73.00 levels. Significant resistance awaits us at $72.00 in the EMA 200 moving average. For a bearish option, we need a negative consolidation and a new test of this morning’s low. A renewed push to that level could reinforce the bearish momentum and send the price of Litecoin to a new weekly low. Potential lower targets are $69.00 and $68.00 levels.
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