Connect with us

Hi, what are you looking for?

Investing

SafeMoon is under pressure, Litecoin retreated to $94.00

SafeMoon is under pressure, Litecoin retreated to $94.00

SafeMoon’s price has been under pressure since the beginning of this week. Yesterday, the price of Litecoin retreated to the $94.00 level, after which it remained above until today.

SafeMoon chart analysis

SafeMoon’s price has been under pressure since the beginning of this week. This led the price to drop below the EMA200 moving average this morning to a new weekly low at 0.00004544. And now we are consolidating below the EMA200 which puts additional pressure on SafeMoon to slide to a new weekly low. Potential lower targets are the 0.00004500 and 0.00004400 levels.

If we get back above 0.00004800 and EMA200, we will have another opportunity to initiate a bullish consolidation and attempt a recovery. A move above the 0.00005000 level would mean a lot to us because that way, we would get additional support in the EMA50 moving average. This would lead to the formation of a new daily high, and we would have another confirmation that we are returning to the bullish side. Potential higher targets are the 0.00005100 and 0.00005200 levels.

Litecoin chart analysis

Yesterday, the price of Litecoin retreated to the $94.00 level, after which it remained above until today. On the upside, we have resistance at the 97.61 level and cannot move above it for now. Today’s support is in the zone around $95.00, and the current consolidation is bullish. We expect Litecoin to have enough strength to break through the resistance zone and climb to a new daily high.

Potential higher targets are the $99.00 and $100.00 levels. For a bearish option, we need a pullback of the Litecoin price below the $95.00 support level. Down below, we will be under more bearish pressure to move to the next lower support. Potential lower targets are the $94.00 and $93.004 levels. The EMA200 moving average is slightly lower in the zone, around the $92.50 level.

The post SafeMoon is under pressure, Litecoin retreated to $94.00 appeared first on FinanceBrokerage.

You May Also Like

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Editor's Pick

The final December results from the University of Michigan Surveys of Consumers show overall consumer sentiment improved for the month but remains near historically...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....

Editor's Pick

Sales of new single-family homes rose again in November, increasing 5.8 percent to 640,000 at a seasonally-adjusted annual rate from a 605,000 pace in...