SafeMoon and Litecoin: Litecoin drops to a new low of $75.00
On Thursday, SafeMoon’s price dropped to the 0.00004000 support level.
Litecoin chart analysis
The price of Litecoin fell on Friday to the $75.09 level and formed a new weekly low there.
SafeMoon chart analysis
On Thursday, SafeMoon’s price dropped to the 0.00004000 support level. Until then, nothing significant has changed because we are still putting pressure on that level. The previous four days’ movement occurred in the 0.00004000-0.00004300 range. The current pressure is on the support level, and we are only one impulse away from the new lower low. The previous time, the price of SafeMoon was below this level in April.
Potential lower targets are 0.00003900 and 0.00003800 levels. We need a positive consolidation above the 0.00004200 level for a bullish option. There, we get the support of the EMA50 moving average, and it will be easier for us to start a further recovery. Potential higher targets are the 0.00004300 and 0.00004400 levels.
Litecoin chart analysis
The price of Litecoin fell on Friday to the $75.09 level and formed a new weekly low there. After that, we see a recovery to the $80.00 level and encounter new resistance there. On Monday, the price starts a new decline to the $76.60 level. It manages to hold above that level after that and recovers slightly, this time to the $79.50 level. There, we encounter the EMA50 moving average, and so far, we have failed to move above it.
That could trigger a new pullback and a new low. Potential lower targets are $77.00 and $76.00 levels. We need a positive consolidation and recovery above the $80.50 level for a bullish option. That brings us back above the weekly open price to the positive side. After that, we will be better positioned to initiate further recovery. Potential higher targets are $81.00 and $82.00 levels.
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