SafeMoon and Litecoin: Litecoin is holding below 98.00
Since Monday, the price of SafeMoon has been in a bullish consolidation with resistance at the 0.0001850 level. After the price of Litecoin dropped below the 100.00 level the previous week, we have not been able to get back above it for now.SafeMoon chart analysis
Since Monday, the price of SafeMoon has been in a bullish consolidation with resistance at the 0.0001850 level. We tried to break above that level a few hours ago but stopped at the same level again. Then the price makes a pullback to the 0.0001800 support level. For now, we have managed to stay at that level and stop the decline.
We need a negative consolidation and a price drop to the 0.0001750 level for a bearish option. Thus, we would drop below the EMA50 moving average, which would further burden the price of SafeMoon. Potential lower targets are the 0.0001700 and 0.0001650 levels. For a bullish option, we need a break above the 0.0001850 level, and after that, we could expect to see further recovery.
Litecoin chart analysis
After the price of Litecoin dropped below the 100.00 level the previous week, we have not been able to get back above it for now. Yesterday the price fell to 91.00 and thus formed the July low. We managed to consolidate at that level and start a price recovery. We are currently at the 97.80 level and testing the EMA50 moving average.
For a bullish option, we need a break above if we want to reach the 100.00 level and continue the axis recovery. Potential higher targets are 102.00 and 104.00 levels. We need a new negative consolidation and pullback below the 96.00 level for a bearish option first. After that, we could expect to see a further decline and a visit to the previous support levels. Potential targets are the 94.00 and 92.00 levels.
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