SafeMoon and Litecoin: Levels and Prices for Tuesday
- The price of SafeMoon was quite calm last week, moving in the 0.00002300-0.00002800 range
- On Tuesday, the price of Litecoin rose to $67.81, a new weekly high
SafeMoon chart analysis
The price of SafeMoon was quite calm last week, moving in the 0.00002300-0.00002800 range. The price pulled back over the weekend to the lower support zone. After successfully testing the support zone, a new bullish consolidation was initiated. SafeMoon gains stronger momentum on Monday and surpasses the EMA 200 moving average. This morning’s momentum pushed the price to the 0.00002850 level.
Potential higher targets are 0.00002900 and 0.00003000 levels. For a bearish option, we need a negative price consolidation back to the EMA 200 and 0.00002650. Then, the price needs to drop below into negative territory. With that step, the bearish pressure will intensify, and we can expect to start a further retreat. Potential lower targets are the 0.00002600 and 0.00002500 levels. At 0.00002500, we will test the weekly open level.
Litecoin chart analysis
On Tuesday, the price of Litecoin rose to $67.81, a new weekly high. After that, the price retreated slightly to $66.50, where it has new support. We are now at $67.00 and starting a bullish consolidation. If the momentum holds, we expect to see a further recovery to $67.50. Up there, Litecoin is close to testing the previous high and continuing to a new one. Potential higher targets are $68.00 and $68.50 levels.
For a bearish option, the price should fall below the $66.50 previous support. This will form a new daily low and increase bearish momentum. After that, the initiation of bearish consolidation remains to be seen. Potential lower targets are $66.00 and $65.50 levels. Additional major support could be the EMA 200 moving average in the $65.75 zone.
The post SafeMoon and Litecoin: Levels and Prices for Tuesday appeared first on FinanceBrokerage.