SafeMoon rises slowly, Litecoin consolidating around $85.00

• The price of SafeMoon continues to rise slowly, and this morning, we saw an impulse to the 0.00004700 level. 
• Yesterday’s bullish consolidation took Litecoin up to $87.00. 

SafeMoon chart analysis

The price of SafeMoon continues to rise slowly, and this morning, we saw an impulse to the 0.00004700 level. It remains on the positive side above the EMA200 moving average. We expect the continuation of this positive consolidation and growth to a new daily high. Potential higher targets are the 0.00004800 and 0.00005000 levels.

For a bearish option, we need a pullback below the EMA50 and the 0.00004250 level. Then, we would fall into a sandwich between the EMA50 and EMA200 moving averages. The price could easily slide down with a new impulse and form a daily low. A drop below 0.00004000 leva would bring us closer to the weekly open price. A new pullback below would only establish a bearish trend, and potential lower targets are the 0.00003900 and 0.00003800 levels.

Litecoin chart analysis

Yesterday’s bullish consolidation took Litecoin up to $87.00. We stopped there and began a pullback to the $83.50 level this morning. With new support, we are back above the EMA200 moving average, rising to $85.50. We are again on the bullish side and waiting for a further recovery to the previous high. Potential higher targets are $88.00 and $89.00 levels.

A further drop below the EMA200 moving average would confirm that Litecoin lacks the strength to recover, and a price pullback will follow. By dropping to the $83.00 level, we form a daily low and confirm the bearish momentum. The next support is at the $82.00 level. The inability to hold on there creates a new bearish impulse. Potential lower targets are $81.00 and $80.00 levels.

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