Economy 21-03-2024 10:46 7 Views

SafeMoon and Litecoin: SafeMoon Struggles with EMA200

Litecoin Leads Bitcoin Uptrend, Shows Possible Bullish Run - Finance Brokerage

SafeMoon and Litecoin: SafeMoon Struggles with EMA200

  • SafeMoon’s price managed to consolidate yesterday around the 0.00004200 level. 
  • The Litecoin price recovered today to the $86.00 level. 

SafeMoon chart analysis

SafeMoon’s price managed to consolidate yesterday around the 0.00004200 level. After that, we saw two strong bullish impulses to the 0.00005200 level. Already in the next hour, we returned to the 0.00004600 level and tested the support of the EMA200 moving average there. Support lasted until this morning when SafeMoon slipped below the 0.00004500 level. We are now under bearish pressure again and expect to return to the support zone again.

Potential lower targets are 0.00004300 and 0.00004200 levels. We need a positive consolidation and a jump to the 0.00004800 level for a bullish option. Then we have to hold our own up there. Only after that, we can hope for a new bullish impulse to challenge Safemoon. Potential higher targets are 0.00005000 and 0.00005200 levels.

SafeMoon Chart Analysis

Litecoin chart analysis

The Litecoin price recovered today to the $86.00 level. We broke above the $82.00 resistance level yesterday and climbed to today’s high. For now, we have resistance to that zone in the EMA200 moving average, which is providing solid resistance for now. The price manages to stay close to it, which, with one impulse, could make a break above and jump to a new daily high. Potential higher targets are $87.00 and $88.00 levels.

We need a pullback to $83.00 and the EMA50 moving average for a bearish option. A break below this support takes us down to yesterday’s $82.00 resistance. The new testing could take a negative step down to push Litecoin into the previous lower range of movement. Potential lower targets are the $81.00 and $80.00 levels.

LiteCoin chart analysis

 

The post SafeMoon and Litecoin: SafeMoon Struggles with EMA200 appeared first on FinanceBrokerage.

Other news