LTCUSD (Litecoin) – Week 45 – Bullish momentum
The Commonwealth Bank of Australia (CBA) is set to launch crypto trading services for the 6.5 million users of its CommBank app. The CBA will become the first bank in Australia to support crypto, and Blockchain Australia said it is “inevitable” that the other “big four” banks, including National Australia Bank (NAB), Australia and New Zealand Banking Group (ANZ) and Westpac, will soon follow suit. According to a Wednesday announcement, the CBA has partnered with the Gemini crypto exchange and blockchain analysis firm Chainalysis to launch its crypto services. The bank will launch a pilot for a limited number of customers in the coming weeks before rolling out the full service in 2022. Ten crypto assets will be supported in its banking app, with Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) named at this stage.
Technically, after this move to the upside that started in September and reached its top in October at $214, we see the price being in a correction. We forecast that the price of Litecoin will reach the orange trendline marked on the chart or retesting the last large wick of the chart at $171 before going 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.
Technically, after this move to the upside that started in September and reached its top in October at $214, we see the price being in a correction. We forecast that the price of Litecoin will reach the orange trendline marked on the chart or retesting the last large wick of the chart at $171 before going 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.
