Trading Ideas

SafeMoon and Litecoin: 0.00005200 support level for SafeMoon

Safemoon chart 1

SafeMoon and Litecoin: 0.00005200 support level for SafeMoon

  • SafeMoon price has successfully stabilized above the 0.00005200 level. 
  • The Litecoin price has been moving in the $79.00-$83.50 range in the last week. 

SafeMoon chart analysis

SafeMoon price has successfully stabilized above the 0.00005200 level. From there, we saw the initiation of a positive consolidation last night and a return above the EMA200 moving average. We are now at 0.00005650 and expect to find support in the EMA200 to further recover to the bullish side. Potential higher targets are 0.00005800 and 0.00006000 levels.

The SafeMoon price could retrace below the EMA200 and 0.00005500 levels for a bearish option. With that step, we move to the bearish side and turn to lower levels. Going down to 0.00005200 will force us to test the support zone. A new bearish impulse could easily bring us down to a new low and thus prolong the fall of SafeMoon. Potential lower targets are the 0.00005000 and 0.00004800 levels.

SafeMoon Chart Analysis

Litecoin chart analysis

The Litecoin price has been moving in the $79.00-$83.50 range in the last week. This morning we had a pullback to the lower support level. As last time, we remain above this time and move with a bullish impulse to the $83.00 level. The impulse was too strong, but the volume quickly decreased, and we pulled back to the $81.00 level.

We expect to continue the bullish consolidation and move again above the EMA200. Potential higher targets are $82.00 and $82.50 levels. For a bearish option, we need to hold below the EMA200. This tells us that the price does not have the strength to initiate a recovery and we will see a pullback to the previous support. Potential lower targets are the $80.00 and $79.00 levels.

Litecoin chart analysis

The post SafeMoon and Litecoin: 0.00005200 support level for SafeMoon appeared first on FinanceBrokerage.

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