SafeMoon and Litecoin: Support Levels and Targets
- The price of SafeMoon found new support at the 0.00002857 level
- The price of Litecoin once again fell below the $70.00 level on Wednesday, October 23
SafeMoon chart analysis
The price of SafeMoon found new support at the 0.00002857 level. With that, we successfully tested the weekly open level and now see a slight bullish consolidation. The price finds the support of the EMA 50 moving average and recovers to the 0.00002925 level. We could have resistance there before continuing to the 200 EMA and the 0.00003000 level. Potential higher targets are 0.00003050 and 0.00003100 levels.
For a bearish option, SafeMoon would have to drop again to this morning’s support at 0.00002855. This will put new pressure on the weekly open level in order to try to stay on the bullish side. With the impulse below, we go to a new daily low and confirm the bearish momentum. Potential lower targets are the 0.00002800 and 0.00002700 levels.
Litecoin chart analysis
The price of Litecoin once again fell below the $70.00 level on Wednesday, October 23. We formed a new weekly low at $67.76. After that, the price started a bullish recovery from there to the $70.60 level. We didn’t have the strength to continue and started a new pullback to the $69.30 level. Currently, the price is finding support to stop the previous bearish momentum. If the support holds the price, we can expect Litecoin to return above the daily open level of $70.00.
Potential higher targets are $71.00 and $72.00 levels. At $71.00, we will get new support on the EMA 200 moving average. For a bearish option, we need a negative consolidation and a drop below the $69.00 level. With that step, Litecoin goes to a new daily low and confirms that it is under bearish pressure. Potential lower targets are $68.00 and $67.00 levels.
The post SafeMoon and Litecoin: Support Levels and Targets appeared first on FinanceBrokerage.
