SafeMoon and Litecoin: Targets and Prices for Thursday
The price of SafeMoon pulled back to a new low at 0.00001266 on Tuesday
The price of Litecoin on Tuesday was in retreat to $61.98, forming a new weekly low there
SafeMoon chart analysis
The price of SafeMoon pulled back to a new low at 0.00001266 on Tuesday. The price hold in that zone was short-lived, and we moved back up to the 0.00002500 level very quickly. On Wednesday and Thursday, we saw that the price managed to hold above that level, but it was without momentum to continue to the bullish side. We need new momentum above 0.00003200 and EMA 200 moving average.
With that step, we return above the weekly open level to the positive side. After SafeMoon stabilizes there, it could trigger a bullish consolidation. Potential higher targets are 0.00003500 and 0.00004000 levels. For a bearish option, we need a negative consolidation and a price drop below the support at 0.00002500. This moves us to a new daily low and reinforces bearish momentum. Potential lower targets are the 0.00002000 and 0.00001500 levels.
Litecoin chart analysis
The price of Litecoin on Tuesday was in retreat to $61.98, forming a new weekly low there. A strong bearish consolidation and a break below the EMA 200 moving average pulled the price to a new low. On Wednesday and today Litecoin is trying to stabilize in the $62.00-$64.00 range. As of this morning, we are in a bullish consolidation and hope to break out of this range. A push to $65.00 would give us new support at the EMA 50 moving average.
After that, we can expect further bullish momentum and conquest of higher levels. Potential higher targets are $66.00 and $67.00 levels. If we fail to break out of this morning’s movement range, the price will be under pressure to start a retreat. We can consider the new fall to $62.00 as confirmation of a return to the bearish side. Potential lower targets are $61.00 and $60.00 levels.
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