Economy 03-09-2024 12:48 8 Views

SafeMoon and Litecoin: SafeMoon remains under pressure

SafeMoon и Litecoin: Litecoin остается на новой поддержке

SafeMoon and Litecoin: SafeMoon remains under pressure

  • For the fifth time in a row, the price of SafeMoon is moving in the same range of 0.00002100-0.00002450
  • On Monday, the Litecoin price retreated to the $62.59 level, forming a new low there

SafeMoon chart analysis

For the fifth time in a row, the price of SafeMoon is moving in the same range of 0.00002100-0.00002450. This morning, the price had an attempt to hold above the EMA 50 moving average and 0.00002300. Unfortunately, a bearish impulse followed, and we saw the price drop to the 0.00002130 support level. We are now holding at 0.00002200 but remain under bearish pressure. This could produce a new downward impulse and form a new daily low.

Potential lower targets are the 0.00002000 and 0.00001800 levels. For a bullish option, we need a positive consolidation and a return above the EMA 50 and 0.00002370 daily open price. With that step, we are moving to the bullish side, and the chances of starting a further recovery to the bullish side are increasing. Potential higher targets are the 0.00002400 and 0.00002600 levels.

SafeMoon chart analysis

 

Litecoin chart analysis

On Monday, the Litecoin price retreated to the $62.59 level, forming a new low there. After that, we saw some price stabilization in that zone, the initiation of a bullish consolidation above $64.00, and the EMA 200 moving average. There, we formed a new bottom and continued with bullish consolidation above the $65.00 level. In this morning’s hours, Litecoin rose to $66.35, a new weekly high.

For now, the price does not have enough momentum to continue above; therefore, we see a pullback to the $65.50 support level. This level manages to keep us above and push us again above the $66.00 level. Now, the chances are increasing that we will continue on the bullish side and that Litecoin will climb to a new daily high. Potential higher targets are $66.50 and $67.00 levels.

Litecoin chart analysis

 

The post SafeMoon and Litecoin: SafeMoon remains under pressure appeared first on FinanceBrokerage.

Other news