SafeMoon remains below EMA, while LItecoin has moved above

SafeMoon chart analysis

SafeMoon’s price managed to climb up to the EMA50 moving average yesterday in the zone around 0.00005100. For now, we pause in that zone and pull back slightly to the 0.00005000 level. We spent the whole of November below the EMA50 moving average, and now we have the opportunity to break above it and start a recovery to higher levels. Potential higher targets are the 0.00005200 and 0.00005300 levels.

We need a negative consolidation and pullback to the 0.00004900 level for a bearish option. This is where we would meet the first potential support. A drop below would confirm a bearish presence on the chart with a tendency to continue to the bearish side. Potential lower targets are 0.00004800 and 0.00004700 levels.

Litecoin chart analysis

Today, we see a stable movement of the price of Litecoin above the 70.00 level. Additional support is provided by the EMA50 moving average, and we expect to see a new bullish impulse soon and start to continue on the bullish side. Potential higher targets are 71.00 and 72.00 levels. That way, we would return to test the previous high from Saturday.

We need a negative consolidation and price pullback to the 69.00 level for a bearish option. With that move, we would pull back above the EMA50 moving average, which would be interpreted negatively, and the expectation would be to see a pullback to a lower support level. Potential lower targets are 68.50 and 68.00 levels. An additional drop below the 68.00 level would lead to the formation of a new low, which confirms the bearish pressure on the price of Litecoin.

The post SafeMoon remains below EMA, while LItecoin has moved above appeared first on FinanceBrokerage.