Connect with us

Hi, what are you looking for?

Real Investment StarReal Investment Star

Economy

SafeMoon and Litecoin: SafeMoon stable around EMA200

SafeMoon and Litecoin: SafeMoon stable around EMA200

Since the beginning of the week, the price of SafeMoon has been in a sideways consolidation in the 0.00009000-0.00012000 range. 
The price of LItecoin was forced down to the $93.46 level yesterday. 

SafeMoon chart analysis

Since the beginning of the week, the price of SafeMoon has been in a sideways consolidation in the 0.00009000-0.00012000 range. This morning we had an attempt to climb above 0.00011000, but we are running into resistance there. This leads to a new pullback to the middle of this channel, where we encounter the EMA200 moving average. We are now under more pressure to move below and look for new support and the zone around the 0.00009000 level.

A new testing of that zone would only strengthen the bearish momentum to slide to a new weekly low. Potential lower targets are the 0.00008000 and 0.00007000 levels. If we manage to stay above the EMA200 and 0.00010000 levels, we will have a new opportunity to start a bullish consolidation. Potential higher targets are the 0.00012000 and 0.00013000 levels.

Litecoin chart analysis

The price of LItecoin was forced down to the $93.46 level yesterday. After forming the weekly low, the price starts a bullish recovery to the $98.00 level. In that zone, we encounter the EMA50 moving average, which provides us with additional support for continuing to the bullish side. We expect to reach the $100.00 level, where we have the next potential resistance in the EMA200 moving average.

A stronger bullish impulse could easily break that and send us to a new daily high. Potential higher targets are $101.00 and $102.00 levels. We need a pullback below the $96.00 support level for a bearish option. With that step, we move to the bearish side and approach yesterday’s support zone. We are again under pressure around the $95.00 level, which could have a negative impact on the further movement of the Litecoin price. Potential lower targets are $94.00 and $93.00 levels.

 

The post SafeMoon and Litecoin: SafeMoon stable around EMA200 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Investing

    Democratic Gov. Janet Mills on Wednesday vetoed a bill aimed at prohibiting foreign influence in Maine elections, but voters will get the final say...

    Latest News

    There were several reasons offered in support of the congestion pricing plan that was supposed to go into effect in New York at the...

    Latest News

    House Speaker Mike Johnson (R-La.) on Wednesday appointed Reps. Scott Perry (R-Pa.) and Ronny Jackson (R-Tex.), two Trump loyalists who denied the results of...

    Disclaimer: realinvestmentstar.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 realinvestmentstar.com