Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Investing

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 Free Trading Ideas, 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

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

    Stock

    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer: Oracleofomahasays.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 Oracleofomahasays.com