SafeMoon and Litecoin: Litecoin is again above $100.00
SafeMoon’s price has been in a sideways movement for almost a month.
Today we finally see the Litecoin price break above the EMA50 moving average and 98.00.
SafeMoon chart analysis
SafeMoon’s price has been in a sideways movement for almost a month. The main focus of the price movement is the 0.0001700-0.0001950 range. We are now just above the halfway point of this channel and have support at the EMA50 moving average. This week, our resistance is the 0.0001850 level, and we are unable to break above it.
We need a negative consolidation and a decline to the 0.0001750 level for a bearish option. Thus, we would pull back below the EMA50, putting additional pressure on SafeMoon’s price. Potential lower targets are the 0.0001700 and 0.0001650 levels.
We need a positive consolidation and price breakout above the 0.0001850 level for a bullish option. Then we need to hold up there to try to reach the 0.0001900 level. Potential higher targets are the 0.0001950 and 0.0002000 levels.
Litecoin chart analysis
Today we finally see the Litecoin price break above the EMA50 moving average and 98.00. This week, that level was an obstacle to our bullish recovery. Today we managed with a bullish impulse to climb above and form a new weekly high at the 101.00 level.
To continue on the bullish side, we need further positive consolidation. The next target is the 102.00 level, and we need a break above if we want to see a continuation. Potential higher targets are 104.00 and 106.00 levels.
We need a negative consolidation and pullback below the 100.00 level for a bearish option. After that, we would have to test the EMA50 moving average and the 98.00 support level. Potential lower targets are 96.00 and 94.00 levels.
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