• Cryptocurrencies: 3431
  • Markets: 20637
  • Market Cap: $281074941737.57
  • 24h Vol: $182527717883.36

Factom: Breakout Imminent

Nouvive and the market as a whole have been keenly following Factom that continues to make strides.

What does the chart say? 

Bullish

  • Factom is currently in a bull flag, a breakout would see a 6.45% gain over the next several hours.
  • Accumulation has slightly decreased as individuals have taken profit, it appears that the OBV will bounce off the trendline as more individuals enter the trade.
  • Market sentiment has been increasing hour on hour, especially over the past several hours.
  • 15 Moving Average is currently being used as a resistance.
  • Volume has been decreasing over the past 3 hours, providing the indication we may see a large volatile move incoming.
  • RSI stochastic indicates that there is more momentum to go.
  • A breakout to $10.17, would see a pull back to $9.50 according to Wykoff’s theory before another pump to $10.89 over the next two weeks.

Bearish

  • As a result of the positive correlation of the market with Factom acting as a 0.74 positively correlated to Bitcoin, a fake bullish pattern, could see Factom fall to $8.83.

Nouvive Says: Factom is more than likely in the process of breaking out to the upside.

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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