SafeMoon and Litecoin: Safemoon retreats to 0.00004600

SafeMoon and Litecoin: Safemoon retreats to 0.00004600

On Friday, Safemoon climbed to the 0.00005886 level and formed a new annual high there.
The price of Litecoin climbed to a new annual high yesterday at the $105.71 level. 

SafeMoon chart analysis

On Friday, Safemoon climbed to the 0.00005886 level and formed a new annual high there. The last time we were there was in December 2023. Over the weekend, the price pulled back to support at the 0.00004606 level. After that, we climbed up to the 0.00005300 level yesterday. We encountered resistance at that level, which led to another decline and testing of support from the weekend. Here, we meet at EMA20, which successfully keeps us above, not allowing us to fall below.

With his support, we started a bullish consolidation up to the 0.00005700 level. We pause again and quickly retreat to the previous support. We look once again at EMA200 and hope for new support. If this does not happen, we will be forced to retreat below and look for new support. Potential lower targets are the 0.00004500 and 0.00004400 levels.

Litecoin chart analysis

The price of Litecoin climbed to a new annual high yesterday at the $105.71 level. We had a bad start to Monday by falling to the $84.00 level. After the support at that level and the return above the EMA200 and the $88.00 level, strong bullish impulses and a jump above the $100.00 level followed. Today, the picture is different; the war has stopped, and we are retreating. We break below $100.00 and continue to the $96.00 level.

Here, we encounter the EMA50 moving average, which, for now, does not allow us to fall below. If the previous bullish impulse continues, we can expect the price to be at lower levels. Potential lower targets are the $95.00 and $94.00 levels. If we stay above the EMA 50 $96.00 level, we will have the opportunity to initiate a new positive consolidation and return above the $100.00 level.

The post SafeMoon and Litecoin: Safemoon retreats to 0.00004600 appeared first on FinanceBrokerage.