SafeMoon and Litecoin: Litecoin drops to support at $85,90
SafeMoon price re-visited the weekly low yesterday at the 0.00004866 level.
Litecoin’s price is slowly moving away from yesterday’s high of $89.63.
SafeMoon chart analysis
SafeMoon price re-visited the weekly low yesterday at the 0.00004866 level. This time, the price held above and initiated a slight positive consolidation up to the 0.00005140 level. Here we are struggling with the EMA50 moving average and need momentum above to continue to the bullish side. By moving up, SafeMoon will get EMA50 support, and it will be easier for us to start further recovery.
Potential higher targets are 0.00005200 and 0.00005300 levels. In the 0.00005300 zone, we will have a big resistance in the EMA200 moving average. For a bearish option we need a negative consolidation of the SafeMoon price. A pullback below 0.00005000 increases pressure on the price, hinting at a further pullback. Potential lower targets are the 0.00004900 and 0.00004800 levels.
Litecoin chart analysis
Litecoin’s price is slowly moving away from yesterday’s high of $89.63. This morning, the price dropped below the EMA50 moving average at the $86.00 level. Fortunately, the price finds that support and climbs to $87.00, returning above the EMA50. We still see pressure on the price, and we need a break above the $88.00 level to release the bearish pressure. If we succeed in that, we could test the resistance zone around $89.00.
Potential higher targets are $90.00 and $91.00 levels. Another drop below the EMA50 moving average would confirm Litecoin’s price weakness. This would influence the price to continue its retreat and look for a new support level. Potential lower targets are $86.00 and $85.00 levels. EMA200 moving average moves in the zone of $84.25 level.
The post SafeMoon and Litecoin: Litecoin drops to support at $85,90 appeared first on FinanceBrokerage.
