Economy

SafeMoon and Litecoin: Litecoin in bullish mode up to $89.63

SafeMoon and Litecoin: Litecoin in bullish mode up to $89.63

The price of SafeMoon dropped to a new lower low last night at the 0.00004866 level. The price of Litecoin is rising this morning to a new weekly high at the $89.63 level.

SafeMoon chart analysis

The price of SafeMoon dropped to a new lower low last night at the 0.00004866 level. It continued to move under pressure below the EMA200 moving average, as reflected on the chart yesterday. After that, the price recovered slightly to the 0.00005260 level. There, we tried to test the weekly open price, but we failed to hold above that line. A bearish consolidation was initiated from there, and we are now at the 0.00005000 level.

We are headed towards yesterday’s low and expect to test that level already today. Potential lower targets are the 0.00004900 and 0.00004800 levels. We must first move back above the weekly open price for a bullish option. Then we need to stay up there. If we succeed, the next step is a new impulse and initiating positive consolidation. Potential higher targets are 0.00005400 and 0.00005500 levels.

Litecoin chart analysis

The price of Litecoin is rising this morning to a new weekly high at the $89.63 level. We stop there and pull back slightly, finding support at the $87.00 level. From there, the price manages to initiate a new positive consolidation and returns to the $88.75 level. We are close to moving above $89.00 again. A new impulse would do it quickly, and after that, we expect to start a further recovery.

Potential higher targets are $89.50 and $90.00 levels. If we see a new pullback to $87.00, it could mean that Litecoin doesn’t have enough strength to break the previous high. Pulling back below $87.00, we fall to a new low and thus confirm the bearish scenario. Potential lower targets are $86.00 and $85.00 levels.

The post SafeMoon and Litecoin: Litecoin in bullish mode up to $89.63 appeared first on FinanceBrokerage.

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