SafeMoon and Litecoin: Litecoin is holding at $82.50 level

• Yesterday, the price of SafeMoon rose to 0.00006125 levels with a couple of strong bullish impulses. 
• Litecoin price made a good recovery yesterday from $78.24 to $82.98 level. 

SafeMoon chart analysis

Yesterday, the price of SafeMoon rose to 0.00006125 levels with a couple of strong bullish impulses. The success was short-lived, as a bearish consolidation to the 0.00005700 level was soon initiated. We managed to stop there and recover slightly to 0.00005900, where we encountered new resistance. This morning, we started pulling back again and went down to the 0.00005550 level.

There is increasing pressure on the price as it is now below the EMA200 moving average, which could negatively affect the further trend. Potential lower targets are the 0.00005500 and 0.00005400 levels. With the return above the EMA200 and the 0.00005700 level, we are back on the positive side. Then, we need to hold up there and wait for a new positive consolidation to continue to the bullish side. Potential higher targets are 0.00005800 and 0.00005900 levels.

Litecoin chart analysis

Litecoin price made a good recovery yesterday from $78.24 to $82.98 level. A strong bullish consolidation quickly took us up to the $83.00 level, this week’s high. Today’s movement is in the $82.00-$83.00 range and we expect to see a new bullish impulse and move us to the weekly higher high. Potential higher targets are $83.50 and $84.00 levels.

We need a negative consolidation and pullback below the support at $82.00 for a bearish option. With this, we descend to a new daily low and confirm the increase in bearish momentum. In the continuation, the price would probably go down to $81.50, and there, we would test the weekly open price, which is a little lower at $81.38. Potential lower targets are $81.00 and $80.50 levels.

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