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HomeEconomySafeMoon and Litecoin: Litecoin is holding above $85.00

SafeMoon and Litecoin: Litecoin is holding above $85.00

SafeMoon and Litecoin: Litecoin is holding above $85.00

Yesterday’s attempt by the SafeMoon price to move above the EMA200 and 0.00004900 levels ended unsuccessfully.
The price of Litecoin climbed to a new high this morning at the $85.53 level. 

SafeMoon chart analysis

Yesterday’s attempt by the SafeMoon price to move above the EMA200 and 0.00004900 levels ended unsuccessfully. Last night, we saw another pullback below the EMA200, which only increased the pressure on the price to go into a pullback. This brings us down to the 0.00004480 level, forming a new daily low. We are now at 0.00004565 and recovering slightly, moving out of the support zone.

Potential lower targets are the 0.00004400 and 0.00004300 levels. We need a positive consolidation and a move back up to 0.00004800 for a bullish option. This moves us back above the EMA200 moving average, and we expect to see a move to the bullish side. Potential higher targets are 0.00004900 and 0.00005000 levels.

 

Litecoin chart analysis

The price of Litecoin climbed to a new high this morning at the $85.53 level. We stop there and make a pullback to support at the $84.50 level. A new impulse from that level raises the price again above $85.00, returning it to the bullish side. Potential higher targets are $85.50 and $86.00 levels. A rise to $86.00 will form a new weekly high.

For a bearish option, we need a negative consolidation and a new pullback to $84.50, the previous support level. A drop below will form a new daily low and thus increase the pressure on Litecoin. After that, we expect to see a further pullback and a visit to lower support levels. Potential lower targets are $84.00 and $83.50 levels.

 

The post SafeMoon and Litecoin: Litecoin is holding above $85.00 appeared first on FinanceBrokerage.

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