SafeMoon and Litecoin: Litecoin dropped to 68.00 yesterday

SafeMoon chart analysis

SafeMoon price continues to consolidate sideways in the 0.000500-0.000600 range. Today, we see bullish movement from the 0.000520 to 0.000545 levels, and we expect to see a continuation to the bullish side and the formation of a new daily high. Potential higher targets are the 0.000560 and 0.000580 levels. Additional resistance in the zone around 0.000580 is the EMA50 moving average.

We need a negative consolidation and price pullback to the 0.000520 support level for a bearish option. A break below leads to a retest of the 0.000500 level. This could negatively affect the price, which would be under much pressure to make another break below and form a new price low. Potential lower targets are the 0.000480 and 0.000460 levels.

Litecoin chart analysis

Yesterday, Litecoin made bearish impulses to the 68.00 level. At that level, the price stops, start a bullish consolidation and moves above the 70.00 level. Today, we see a continuation of that consolidation, pushing the price of Litecoin up to the 72.00 level. If this consolidation continues, we could climb up to the 72.50 level, where we encounter the EMA50 moving average.

A break above reinforces a bullish option, positively affecting the price movement. Potential higher targets are 73.00 and 73.50 levels. We need a negative consolidation and price pullback to the 70.00 support level for a bearish option. Instability in that zone will influence us to see a fall below and start a further retreat. Potential lower targets are 69.00 and 68.00 levels.

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