Economy 13-03-2024 11:20 7 Views

SafeMoon and Litecoin: Litecoin fell below $92.00 yesterday

Litecoin Dropped to $43, Retesting Resistance Might Happen - Finance Brokerage

SafeMoon and Litecoin: Litecoin fell below $92.00 yesterday

  • The price of SafeMoon has been moving in the 0.00004700-0.00004900 range in the last 24 hours. 
  • Yesterday, the Litecoin price dropped to the $91.69 support level. 

SafeMoon chart analysis

The price of SafeMoon has been moving in the 0.00004700-0.00004900 range in the last 24 hours. The movement is quite calm with the support of the EMA200 moving average. We are stable for now but need a new bullish impulse to start the bullish consolidation again. We broke away from the previous rank by jumping up to the 0.00005000 level, at least for a bit.

After that, you give us a positive consolidation to continue on the bullish side. Potential higher targets are the 0.00005100 and 0.00005200 levels. For a bearish option, we need a negative consolidation and price pullback below the EMA200 and 0.00004700 levels. Such a picture would only increase the pressure on SafeMoon to slide even lower. Potential lower targets are the 0.00004600 and 0.00004500 levels.

SafeMoon Chart Analysis

Litecoin chart analysis

Yesterday, the Litecoin price dropped to the $91.69 support level. After the new support, we move back above the $97.00 level and get additional support at the EMA50 moving average. Since then, we have been in a mild bullish consolidation, moving up to the $99.00 level. The consolidation is slow, or we could have climbed above the $100.00 level. This could initiate a new bullish impulse and trigger a more concrete recovery.

Potential higher targets are the $102.00 and $104.00 levels. If we were to pull back below the $97.00 level, the price would be under pressure from the EMA50 moving average, which could negatively impact the further trend. Potential lower targets are the $96.00 and $94.00 levels. The EMA200 moving average is in the zone around the $92.00 level.

LiteCoin chart analysis

 

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