SafeMoon and Litecoin: Litecoin slips below 82.00 level

SafeMoon price drops today to 0.0001650 level. The Litecoin price is in a bearish trend after reaching the 85.00 level last week.

SafeMoon chart analysis

SafeMoon price drops today to 0.0001650 level. We form a new August low and pull back to the 0.0001700 level. We have a new resistance at that level and are dropping to retest the support at the 0.0001650 level. The price remains under pressure, which could have a negative effect and push it below the previous low and form a new one. Potential lower targets are the 0.0001640 and 0.0001620 levels.

We need a positive consolidation and a move back up to the 0.0001760 resistance level for a bullish option. Then, we need to make a breakthrough above, and with the help of the EMA50 moving average, we start a further recovery. Potential higher targets are 0.0001780 and 0.0001800 levels.

Litecoin chart analysis

The Litecoin price is in a bearish trend after reaching the 85.00 level last week. Yesterday, we saw the formation of a new low at the 81.00 level and then a recovery to the 83.00 level, where we encountered a new resistance. From there, the price is again in a bearish consolidation, descending to 81.40.

In the last few hours, we managed to stay down there and start a slight recovery. A break below would form a new low and confirm the bearish side. Potential lower targets are 80.00 and 79.00 levels.

For a bullish option, we need a positive consolidation and a return to 83.00, the previous resistance zone. A break above and staying there would facilitate further recovery to the bullish side. Potential higher targets are 84.00 and 85.00 levels.

The post SafeMoon and Litecoin: Litecoin slips below 82.00 level appeared first on FinanceBrokerage.