FlorinCoin Reversal

FlorinCoin has lost 85% to USD since the correction started back in the beginning of January. Price went down to $0.058 from the $0.4 high. Fibonacci applied to the corrective wave after the uptrend trendline breakout shows that the support at $261.8 is now being rejected after price managed to go below, but recovered very fast.

If FLO/USD will manage to close above local resistance at $0.11, there are good chanced that Floricoin will rise up to the previously established resistance at $0.17, that corresponds to the 2/1 Gann Fan trendline.

On a downside, break and close below the $0.08 support should invalidate bullish outlook and could send price even lower.

SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here