SafeMoon and Litecoin: Litecoin struggles with 63.00 level

SafeMoon chart analysis

SafeMoon’s price yesterday formed a new seven-day high at the 0.0001470 level. At that level, we encounter resistance and start retreating. We first consolidated around the 0.0001450 level, then saw a breakout below and a drop to support at the 0.0001425 level. We are still under pressure at the support level, which could lead to a breakout below and the formation of today’s new low.

Potential lower targets are the 0.0001420 and 0.0001410 levels. Additional price support could be found in the EMA50 moving average in the zone around the 0.0001410 level. We need a positive consolidation and a move above the 0.0001440 level for a bullish option. Potential higher targets are 0.0001450 and 0.0001460 levels.

Litecoin chart analysis

The price of Litecoin formed a two-week high yesterday at the 66.33 level. We stayed up for a short time because a bearish impulse followed and a pullback to the $63.50 level. Then we tried to consolidate in that zone, but a pullback to the 63.00 level followed. It still remains under pressure at that level, and it is positive that on the downside, we have support in the EMA50 moving average.

A break below would strengthen the bearish option, which could influence the price of Litecoin to start further weakening. Potential lower targets are 62.00 and 61.50 levels. For a bullish option, we need a break above 63.50 again. In the extension, we could expect to see positive consolidation and further recovery on the bullish side. Potential higher targets are 64.00 and 65.00 levels.

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