Factom is clearly trending upwards although currently, it has entered the stage of a short to medium term consolidation. Since 1st of January, FCT/BTC continue to range between btc 0.005 and 0.0035. At the same time price broke above the downtrend trendline and for the second time it returned to the point of breakout, that is btc 0.004.
Today Factom rejected the 200 Moving Average and the 2/1 Gann Fan trendline. This could suggest the uptrend continuation from this point onwards, nevertheless, consolidation could extend a little further.
The upside target is seen at 127.2% Fibonacci retracement that is btc 0.006, this price level should act as a key resistance showing further intentions of the Factom.
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Factom starting to look good
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Support being rejected, first target 0.0063, second target 0.0068
Thanks for your idea! Do you think a break out is imminent? Whats your estimated time frame for reaching the targets?
CryptoPAMM
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@MuMPiTz, I think it is highly likely that the uptrend will continue, estimate timeframe is one month
MuMPiTz
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@hitech, okay thx. Btw care to share your oppinion on the tether issue, some guys on here and on reddit say the end is near. I'm missing any experience in this market, is that issue something to reckon with?