SafeMoon and Litecoin: Litecoin retreats to 62.50 level
SafeMoon’s price has continued to pull back since early September and continues today.
Litecoin has been in a bearish trend since yesterday, with the 65.00 level.
SafeMoon chart analysis
SafeMoon’s price has continued to pull back since early September and continues today. We are still hovering around the 0.0001400 level but managing to hold above it. This could mean that we have the strength for some recovery. Potential higher targets are the 0.0001440 and 0.0001460 levels. We have additional resistance in the zone around the 0.0001460 level in the EMA50 moving average.
We need a negative consolidation and a new support test at the 0.0001400 level for a bearish option. A break below would lead to the formation of a new low, and thus, we would confirm the bearish option. Potential lower targets are the 0.0001380 and 0.0001360 levels.
Litecoin chart analysis
Litecoin has been in a bearish trend since yesterday, with the 65.00 level. Today’s low is at the 62.50 level, and we will try to stop this decline there. A slight recovery moves us to the 63.00 level, and now we are trying to hold there in order to start further growth of Litecoin from there. Potential higher targets are 63.50 and 64.00 levels.
We need a negative consolidation and a drop below the support at the 62.50 level for a bearish option. After that, we will test the 62.00 level and the low from the previous Friday. A break below would form a new low and confirm the bearish trend. Potential lower targets are 61.50 and 61.00 levels.
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