SafeMoon and Litecoin: Litecoin is still in a bearish trend

SafeMoon chart analysis

The price of SafeMoon continues its sideways consolidation for the tenth day in a row. This week’s support level is 0.00003050. The price is under more pressure as it is below the EMA 200 moving average. This could reinforce the bearish momentum and retest the support level. Falling below the 0.00003050 level, we move to a new weekly low. With that step, we will confirm the bearish option for further continuation towards lower levels.

Potential lower targets are 0.00003000 and 0.00002900 levels. For a bullish option, we need positive consolidations of SafeMoon above EMA 200 and 0.00003200. Then, we need to hold up there in order to create a position to continue to the bullish side. Potential higher targets are 0.00003300 and 0.00003400 levels.

Litecoin chart analysis

The Litecoin price continued today with this week’s bearish consolidation. Last night, we saw a pullback to $62.03, a new weekly low. After that, we tried to recover, but we encountered resistance at the $64.80 level. The EMA 200 moving average created additional pressure in that zone, and the price had to retreat. We are now at $63.25 and expect a new visit to the previous low.

There are potential lower targets at $62.00 and $61.00 levels. However, for a bullish option, we need a positive consolidation of the Litecoin price above the $65.00 level. If we manage to skip the EMA 200 and get its support, we can expect the growth of bullish momentum and, thus, the price of Litecoin. Potential higher targets are $66.00 and $67.00 levels, indicating the potential for significant growth.

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