Litecoins price just broke the all the previous lows from its initial move earlier last month when it broke well above $300. As you can see on the chart below, the price has just broken this significant support level and looks to continue this bearish trend it has been following the last month or so.
What does this mean? What might we see in the coming days, weeks, months?
Personally I believe we are seeing a correction in the market and in the next coming weeks to months should see a significant impulse move up where we will overtake all previous highs. As for the next coming days, I believe we have yet to see the bottom of this trend an could see the current trend continuing for the next couple days. I will continue to follow the prices of Litecoin as well as Ripple and Steem so if you are looking to trade look for dips within the next couple of days for entry level buys.