SafeMoon and Litecoin: Litecoin drops below 77.00 level

SafeMoon chart analysis

The price of SafeMoon fell to a new August low yesterday at the 0.0001621 level. After that, we saw an attempt to recover, but we quickly returned to the previous low. Chances are high that we will see a breakout below and the formation of a new lower low. Potential lower targets are the 0.0001600 and 0.0001580 levels.

For a bullish option, we need a new positive consolidation and a move towards the 0.0001660 level. Then, we should stay above it and start the recovery with a new impulse. Potential higher targets are the 0.0001680 and 0.0001700 levels. We will have an additional resistance bullish option in the EMA50 moving average in the zone around the 0.0001720 level.

Litecoin chart analysis

Litecoin fell to the 76.94 level last night, forming a new August low. After that, the price tried to start a recovery but stopped at the 79.90 level. Then, we see the beginning of a new bearish consolidation, and Litecoin starts a new pullback. We are now at the 78.70 level and could expect a new test of the previous low soon. Potential lower targets are 76.00 and 75.00 levels.

We need a new positive consolidation and a move towards the 80.00 level for a bullish option. Then, we should stay there and form a new bottom from which we would start further recovery. Potential higher targets are 81.00 and 82.00 levels. We will have an additional break at the 82.00 level in the EMA50 moving average.

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