SafeMoon and Litecoin: Litecoin slipped to $72.00 yesterday

• Yesterday afternoon, the price of SafeMoon made another attempt to climb above the 0.00005500 level.
• The Litecoin price dropped to $72.06 last night after consolidating around the $90.00 level. 

SafeMoon chart analysis

Yesterday afternoon, the price of SafeMoon made another attempt to climb above the 0.00005500 level. We only managed to touch that level because a quick pullback to the 0.00006300 level was successful. After new support, we moved above EMA200 and the 0.00004000 level. Today’s movement takes place in the 0.00004000-0.00004500 range. We are in a mild bullish trend and expect to continue on the bullish side.

Potential higher targets are the 0.00005000 and 0.00005500 levels. If we fail to get a bullish impulse, we are followed by an increase in bearish momentum and a new drop below the EMA200 and 0.00003800 support levels. Below those levels, we are under strong bearish pressure to continue further retreat. Potential lower targets are the 0.0003600 and 0.3500 levels.

Litecoin chart analysis

The Litecoin price dropped to $72.06 last night after consolidating around the $90.00 level. Monday and Tuesday were fairly quiet until last night, when we saw bearish pressure at the price and a strong bearish impulse to a new weekly low. Fortunately, the price found support there, and after a few hours, it returned above the $80.00 level. We broke above that level this morning and continued to a new daily high at $87.50.

For now, we are holding below and moving down to support at the $85.00 level. Additional support is in the EMA200 moving average. We need a new impulse to break today’s resistance and reach the $88.00. Then, we need to hold on there if we want to see further growth in the price of Litecoin. Potential higher targets are $89.00 and $90.00 levels.

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