SafeMoon and Litecoin: SafeMoon is holding above the EMA 200

• The price of SafeMoon climbed to a new weekly high on Tuesday at the 0.00004000 level
• Litecoin price has been in a mild bullish consolidation since Monday

SafeMoon chart analysis

The price of SafeMoon climbed to a new weekly high on Tuesday at the 0.00004000 level. The joy was short-lived as we saw a pullback below the 0.00003000 level. On Wednesday, the price continued to fall, gaining new support at 0.00002600 and the EMA 200 moving average. Soon after that, SafeMoon makes a new impulse and jumps to the 0.0000330 level. We meet resistance again and are forced into another pullback to 0.00002880. 

Price pressure is now to continue down to 0.00002600 and thus pull back below the EMA 200 moving average. Potential lower targets are the 0.00002400 and 0.00002200 levels. For a bullish option, we need positive consolidation and staying above the weekly open price. After that, SafeMoon could retest today’s high and try to climb to a new one. Potential higher targets are 0.00003400 and 0.00003600 levels.

Litecoin chart analysis

Litecoin price has been in a mild bullish consolidation since Monday. This morning, we climbed to the $62.50 level, a new weekly high. There, the price encountered the EMA 200 moving average, which did not allow us to move above. Litecoin makes a new retreat and goes down to the $61.80 level. Here, we are trying to get support from the EMA 50 moving average to stop further decline. If we fail to do so, we go below to a new daily low and continue the bearish consolidation.

Potential lower targets are the $61.50 and $61.00 levels. For a bullish option, we need a positive consolidation and a move back up to $62.50. We will again try to move above the EMA 200 and get its support to continue on the bullish side. Potential higher targets are the $63.00 and $63.50 levels.