Connect with us

Hi, what are you looking for?

Investing

SafeMoon was volatile, Litecoin falls to a new low of $77.84

SafeMoon was volatile, Litecoin falls to a new low of $77.84

Over the weekend it was very volatile on the SafeMoon chart. The Litecoin price on Friday fell below $90.00 and the EMA200 moving average.

SafeMoon chart analysis

Over the weekend it was very volatile on the SafeMoon chart. In the first part of Saturday, we saw consolidation around the 0.00004000 level. After which the price starts to jump sharply, climbing all the way to the 0.00009200 level. We were solidly maintained above the 0.00005000 level for those few hours. On Sunday we saw another bullish attempt, this time only up to the 0.00007900 level. After that attempt, the price drops again and, this time, breaks the support at the 0.00005000 level.

Yesterday, SafeMoon had another attempt, but only to 0.00005500, where we hit this week’s resistance. This led to a drop below the EMA200 moving average at the 0.00004200 level. Below the EMA200, we are under stronger bearish pressure and could retest the 0.00004000 level. For the bullish option, we hope that the weekend bullish attempt indicates that we will see SafeMoon rise to higher levels in the coming days.

Litecoin chart analysis

The Litecoin price on Friday fell below $90.00 and the EMA200 moving average. This showed that we are moving away from the previous bullish path and that a bigger pullback could happen. The first indicator is Friday’s low at the $84.00 level. At the start of the weekend, we saw a new test of $90.00, and we just ran into resistance there. The check was followed by a bearish consolidation to a new low at $80.60.

Yesterday, we reaffirmed that support level. The price of Litecoin attempted a new bullish consolidation that stopped at the $88.00 level. Today, we are looking at a drop below that zone to a new weekly low at $77.85. Liteocin is under a lot of pressure to continue lower, and potential lower targets are the $77.00 AND $76.00 levels.

The post SafeMoon was volatile, Litecoin falls to a new low of $77.84 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...

Latest News

Lawmakers reacted after Iran launched drones from its own territory toward Israel late Saturday, calling for the White House to ‘stand firm’ and ‘stop...

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...

Economy

President Biden has a story he wants to tell voters about the economy, one of consistent job growth over the course of his presidency...