SafeMoon and Litecoin: New Targets and Support Levels
- SafeMoon’s price ended a four-day bearish consolidation on Sunday, October 20, at 0.00002754
- The Litecoin price has been in a bearish trend since Saturday, October 19
SafeMoon chart analysis
SafeMoon’s price ended a four-day bearish consolidation on Sunday, October 20, at 0.00002754. After that, the price started to recover to the 0.00002900 level. There, we encountered a new resistance that brought us back to the zone of the previous low. After some consolidation at that level on Tuesday, October 22, SafeMoon initiates a new bullish consolidation to a new weekly high at 0.00002950.
The EMA 50 moving average now supports the price, and we are waiting for a bullish impulse to continue on the bullish side. Potential higher targets are 0.00003000 and 0.00003050 levels. The EMA 200 moving average in the 0.00003000 zone is an additional resistance and barrier. For a bearish option, SafeMoon should break below the EMA 50 and 0.00002850. With that step, we move below the weekly open level, strengthening the bearish pressure on the price to continue its retreat. Potential lower targets are 0.00002800 and 0.0002750 levels.
Litecoin chart analysis
The Litecoin price has been in a bearish trend since Saturday, October 19. On Monday, October 21, the price breaks the support at $74.00 and continues to the $70.00 level. Additional pressure is created by the EMA 200 moving average, which is now on the bearish side. Today’s movement is in the narrow range of $70.00-$71.00, and we can expect an impulse up or down soon. If the pressure on the support zone is too much, Litecoin will break below and form a new low.
Potential lower targets are $69.00 and $68.00 levels. For a bullish option, we need a break above the EMA 200 and $71.00. Then, the price must hold there if we want to see a continuation of the bullish side. With the return above $72.00, we get the support of the EMA 50 moving average, thus strengthening the bullish momentum. Potential higher targets are $73.00 and $74.00 levels.
The post SafeMoon and Litecoin: New Targets and Support Levels appeared first on FinanceBrokerage.