Technical Analysis - LTCUSD

Looking at the charts and the moves we have seen in the last couple days, we have seen them break every support mark. However, today looks like we might have hit a bottom of the crash as we have hit a prior low and the price bounced around that price. Look for a possible buy entry as it hits the smaller dips.

The price of the cryptocurrencies are based off the price people are willing to pay for the currency. Events as small as statements from certain individuals could change the speculation of the markets enough to cause drastic changes as we have seen with these markets so far. Remember that this was not the only large dip we have seen as we saw Bitcoins price plummet early September due to statements from the Chinese as well as JP Morgan CEO Jamie Dimon. The cryptocurrency markets have proven themselves to be volatile, know what you are going to do and what the risks are before you invest.