On this 3-day chart we have an almost 2 month long Bullish divergence between price action and RSI following a strong oversold period.
According to the weekly chart we're sitting on strong past resistance not to mention being 97% down from the all time high.
FCT declined by 4.36%, touching levels below $10.
Somehow, it seems FCT is looking upward for the $11 goal.
According to some analysts it could reach $26.
For a month, coin went up 16.34% from $8.6 for coin.
For 100 days FCT is up 121.84% from $4.51.
FCT traded above $16 not long ago and that might be a realistic level to get back to.
After a bullish movement which brought price to near $20, now a swift is taking the price trading below $10.
$10 support was broken and now the price is meeting resistance at $10.
It might have found some stability for now trading around 10$.
The bullish moth for FACTOM came to an end with it's price sinking more than 15% in the last hours. A sell-off ended an amazing outperformance and halted the further possible price growth.
The most likely movement from now on is further down.
The significant outperformance seen recently, which ended in 300% up, is now reversing.
A possible drop below $11.80 would lead to another lower low and to a more bearish outlook.
Traders are selling their holdings to record profit from the months movements, this can be followed by even further decreases and selling.
Okay, so today about another interesting altcoin - Factom (FCT).
Here, the positive news mostly. It continues to be one of the most prosperous altcoins during the past weeks. Seems to go through a growth spurt unaffected by the Bitcoin bear market.
FCT price, recovering from the recent downs, has now got boosted from the announced partnership with online video...
Let's assume the channel holds and the timing and wave lengths, and percentage gains are equal to the previous impulse waves on the last bull run; we have ~250$ factoids in February 2019 and ~2300$ factoids in May 2019. This chart is just for fun and carries many assumptions, although I believe it to be within the realm of possibility, this is not a prediction.
For the last few days Factom was riding a bullish wave, it has steadily risen breaching key resistance levels. Even with the downturn over the past 24 hours Factom is among the most promising performers since the market collapsed. The crypto asset is currently spotting a market cap of $112.76 million.
The RSI shows healthy buying of the coin. The crypto asset has...
Factom has lost 85% since it reached an all-time high at $122, and found the support at $18. FCT/USD rejected previous support level as well as the downtrend trendline of the previously established triangle pattern.
Considering the fact that buying opportunities appear once the coin has corrected around 80%, Factom could start picking up value in the near future....