SafeMoon and LItecoin: SafeMoon is slowly waking up

  • July 9, 2024
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SafeMoon and LItecoin: SafeMoon is slowly waking up

Over the weekend, the price of SafeMoon retreated from 0.00003300 to 0.00002850. 
The Litecoin price dropped to $56.76 on Friday.

SafeMoon chart analysis

Over the weekend, the price of SafeMoon retreated from 0.00003300 to 0.00002850. After the formation of this low, the price stabilized in that zone and initiated a bullish consolidation. Monday was quite quiet, and the movement is taking place in a narrow range of 0.00002900-0.00003000. At the beginning of Tuesday, the bullish momentum began to strengthen. We immediately saw an impulse to the 0.00003484 level.

After that, the price moves back down to initiate a stable bullish consolidation. That happened, and SafeMoon is now at the 0.00003318 level. On a positive note, we have crossed the EMA 200 moving average and have its support to continue to the bullish side. Potential higher targets are 0.00003400 and 0.00003500 levels. We need a negative consolidation and a break below the EMA 200 and 0.00003100 for a bearish option. This tells us that we have lost the bullish momentum and that a pullback to the bearish side will follow. Potential lower targets are the 0.00002900 and 0.00002800 levels.

 

Litecoin chart analysis

The Litecoin price dropped to $56.76 on Friday. With this drop, we are down to the November 2022 Litecoin value. After a short consolidation, the price managed to stabilize and start a recovery. On Saturday, a new high was formed at the $65.50 level. On Sunday, new volatility takes us back below the $60.00 level. The price is starting a new bullish recovery after forming a new low at $59.24 on Monday.

We managed to break above the weekend high and form a new one at the $67.10 level. Today’s movement is quite stable in the $64.00-$66.00 range. A slight bullish consolidation suggests that we are slowly recovering. Potential higher targets are $66.00 and $68.00 levels. We will have additional resistance in the EMA 200 moving average in the $67.00 zone.

 

The post SafeMoon and LItecoin: SafeMoon is slowly waking up appeared first on FinanceBrokerage.

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