SafeMoon continues bearish, while Litecoin drops below 70.00

SafeMoon chart analysis

Over the weekend, SafeMoon’s price managed to hold above the 0.00005000 level. As this week began, the price began to retreat with the formation of a new low at the 0.00004611 level. For now, we manage to hold above that level and recover slightly to 0.00004900. We need further positive consolidation to continue the recovery to the 0.00005000 level.

We will have additional pressure on the price in that zone in the EMA50 moving average. A break above would make us release the bearish pressure and continue on the bullish side. Potential higher targets are the 0.00005100 and 0.00005200 levels. We need a negative consolidation and a price drop below the 0.00004700 level for a bearish option.

Thus, we would have the opportunity to form a new low and thereby confirm the bearish trend. Potential lower targets are 0.00004600 and 0.00004500 levels.

Litecoin chart analysis

Over the weekend, the price of Litecoin managed to reach 72.27 levels. That’s where we encountered resistance and started a retreat that continued this week. On Monday, the price fell below the 70.00 and EMA50 moving average. Below, we see a drop to a new low at the 68.00 level this morning. For now, we have managed to stay above and are currently moving up to the 69.00 level with a bullish impulse.

We need a continuation of the positive consolidation to extend the bullish option. Potential higher targets are 69.50 and 70.00 levels. We come across the EMA50 again in the zone around the 70.00 level. I need a negative consolidation and a return to the support zone at the 68.00 level for a bearish option. The fall below leads to a new low; thus, we confirm the bearish trend. Potential lower targets are 67.50 and 67.00 levels.

The post SafeMoon continues bearish, while Litecoin drops below 70.00 appeared first on FinanceBrokerage.