SafeMoon Price Update: Continued Slide Below 0.00006000

SafeMoon’s price continues to slide today, dropping below the 0.00006000 level this morning. 
Litecoin’s price managed to reach the $87.69 level yesterday. 

SafeMoon chart analysis

SafeMoon’s price continues to slide today, dropping below the 0.00006000 level this morning. We are currently at 0.00005700 and under bearish pressure to continue the pullback.

We are further away from the EMA200 moving average and expect to fall to a new daily low. Potential lower targets are the 0.00005600 and 0.00005400 levels.

If SafeMoon gains support and returns above the 0.00006000 level, it could initiate a positive consolidation for a bullish recovery. Additional resistance at the 0.00006000 level is the EMA50, and we hope to break above it.

After that, we get the support of the moving average, and we will be in a better position for further continuation of the new trend. Potential higher targets are 0.00006200 and 0.00006400 levels.

Litecoin chart analysis

Litecoin’s price managed to reach the $87.69 level yesterday. We are stopped there at a new weekly high, and the price is initiating a pullback in search of new support.

Strong bearish impulses continued to push the price below the EMA200 moving average and the $84.00 level. We stopped at the $81.82 level, forming a new weekly low.

After that, we saw a slight recovery to $83.50, but we are still below the EMA200 and $84.00 levels. That could continue to pressure Litecoin to slide to new lows.

Potential lower targets are $81.50 and $81.00 levels. For a bullish option, we have to climb above the moving average if we want to go into a specific resistance. Potential higher targets are $85.00 and $85.50 levels.

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