SafeMoon and Litecoin: Litecoin is bearish since Friday

• SafeMoon’s price has moved away from the previous bullish trend by falling below 0.0001000 and the EMA200 moving average last week.
• The inability of Litecoin to return above the $100.00 level has influenced us to start a pullback.

SafeMoon chart analysis

SafeMoon’s price has moved away from the previous bullish trend by falling below 0.0001000 and the EMA200 moving average last week. Over the weekend, we saw a continuation of the bearish consolidation and a drop on Sunday evening to the 0.00002687 level. After a promising March, April brings us a retreat and a return to the defensive. On Monday, SafeMoon recovered to the 0.00006000 level and a daily high was formed there.

From there, we initiate a bearish consolidation and move below the 0.00005000 level. The critical support level is 0.00004500. If we slip below that level, the price could easily go to a new lower low. Potential lower targets are 0.00004000 and 0.00003500 levels.

Litecoin chart analysis

The inability of Litecoin to return above the $100.00 level has influenced us to start a pullback. We saw the first bearish step on Friday, falling to $80.00. After that, on Saturday, we tried to maintain around the $85.00 level, but the price made a new bearish impulse and fell to the $70.83 level. With this, we form a new lower low in the last month. On Sunday, Litecoin recovers and climbs to the $83.00 level.

We stop there on Monday making another pullback to support at the $76.00 level. We form a higher low, and with positive consolidation, we grow to the $79.00 level. We need a continuation of this consolidation in order to move above the $80.00 level and start a further recovery to the bullish side. Potential higher targets are $82.00 and $84.00 levels.

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