Investment Tips 30-05-2023 12:27 32 Views

SafeMoon and Litecoin: Litecoin is back above the 92.00

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SafeMoon and Litecoin: Litecoin is back above the 92.00

  • SafeMoon continues with May’s positive consolidation.
  • Litecoin continues its recovery after last week’s pullback to the 82.52 level.

SafeMoon chart analysis

SafeMoon continues with May’s positive consolidation. Yesterday we had the formation of a new higher high at the 0.0002840 level. This was soon followed by a pullback to the 0.0002450 support level. We are now holding on to that spot and could expect to see some sideways consolidation.

We are still in a larger bullish channel, and based on it, we could expect the price to pull back to the lower left of the channel. Potential lower targets are the 0.0002300 and 0.0002200 levels. In the zone around 0.0002300, we have additional support in the EMA50 moving average.

SafeMoon Chart Analysis

Litecoin chart analysis

Litecoin continues its recovery after last week’s pullback to the 82.52 level. We are in a bullish trend for the fifth day, and the price has risen to 93.00 levels. We are now testing last week’s high from the previous Tuesday. If we climb above, we can test the May high at the 95.00 level. Before that, we have to rise above the 94.00 level. We need a negative consolidation and pullback to the 91.00 support level for a bearish option. If we fall below it, we could slide even lower.

Litecoin chart analysis

 

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