LTCUSD (Litecoin) – Week 44 – The bulls are coming
The number of Litecoin (LTC) transactions has rebounded to over 140,000 in recent days after falling close to the 100,000 mark in early October. Three days prior, the Litecoin Foundation tweeted about the launch of its LTC Visa debit card, powered by fintech firm Unbanked. According to the card's homepage, potential customers would first register for a Litecoin card account, deposit LTC into a specific wallet address, pass a Know-Your-Customer check and receive a virtual Litecoin card.
The service claims that the sign-up process takes less than five minutes. The Litecoin card is meant to enable users to spend their LTC at all digital merchants that use Visa as their payment processor — a number the Litecoin Foundation estimates to be around 50 million.
Technically, in the previous week Litecoin made a sharp correction that reached the $171 zone and then retraced back to the upside reaching the orange trendline marked on the chart. For this week we give a high probability for the price to consolidate under or above this trendline and eventually break it and start a new move to the upside.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
The service claims that the sign-up process takes less than five minutes. The Litecoin card is meant to enable users to spend their LTC at all digital merchants that use Visa as their payment processor — a number the Litecoin Foundation estimates to be around 50 million.
Technically, in the previous week Litecoin made a sharp correction that reached the $171 zone and then retraced back to the upside reaching the orange trendline marked on the chart. For this week we give a high probability for the price to consolidate under or above this trendline and eventually break it and start a new move to the upside.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
