Connect with us

Hi, what are you looking for?

Trading Secrets

SafeMoon Price Update: Above 0.00004000 and Consolidating

SafeMoon Price Update: Above 0.00004000 and Consolidating

The price of SafeMoon is slowly but successfully breaking away from the bearish clutches. Over the weekend, the price of Litecoin fell to $68.09.

SafeMoon chart analysis

The price of SafeMoon is slowly but successfully breaking away from the bearish clutches. On Monday, we saw a bullish impulse and a jump to the 0.00004206 level. After a long time, we managed to get back above the 0.0000400 level. Although we did not stay at that level for long, the price managed to stay above the EMA200 moving average, which did not allow us to move above it.

With yesterday’s jump, the price has made enough room to consolidate above the EMA200, so today, we are looking at a higher low at the 0.00003400 level above the moving average. With the bullish consolidation, we are now at the 0.00003630 level and expect to break above the 0.00003800 level. If we can do that, we will have empty space again to the previous high at 0.00004200.

Litecoin chart analysis

Over the weekend, the price of Litecoin fell to $68.09. After forming a new low, we consolidated and launched a recovery from that level. We returned above the $70.00 level on Sunday and the EMA200 moving average. This influenced the price to move into a bullish consolidation of $71.75. That’s where we meet the resistance, and today, we’re looking at a pullback that takes us down to the $69.50 level and below the EMA200.

We are currently under pressure to pullback and test lower support levels. Potential lower targets are $69.00 and $68.50 levels. If we were to move to the $71.00 level, the LItecoin price would return above the support and have an opportunity to start a recovery. Potential higher targets are $71.50 and $72.00 levels.

The post SafeMoon Price Update: Above 0.00004000 and Consolidating appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...

    Trading Secrets

    I don’t like it when parts of a puzzle don’t match. You just don’t get a clear picture. As participants in the markets, we...