FuturoCoin: A Promise Of Better Times
FuturoCoin (FTO) is one of the most interesting cryptocurrencies in the industry. After exceeding at the beginning, now FTO struggles. Is there any hope for going up? What will the next few weeks look like for the coin?
We’ve noticed that you ask us for more analysis, so we decided to make more of them. Last time, we analyzed the chart of Binance Coin (BNC). Today, we are looking closely to FuturoCoin (FTO).
What happened with FuturoCoin?
After the last saving from the historical minimum at 0.0003 on 10th April 2019, the FTO/BTC market has been taken over by the buyers. However, this move should not be seen as a change in the trend and the start of a long-term upward wave.
A strong sell-off marked the beginning of the year for the FTO/BTC market, and thus a dominating downward trend was formed. It is defined by a red line connecting tangent points, which is the resistance zone.
Early signs of the change
From the mid-February, we have been observing a side channel that could be a signal to change the trend. However, its breakdown at the bottom of 0.000670 and the break of the support line resulted in a continuation of the downward trend.
Currently, the buyers are slowly taking over the initiative; however, to consider this as a strong signal for the upward trend, the market must very clearly break the support line around 0.000500. Otherwise, the downward trend will remain.
Recently, FuturoCoin published news about change in FTO masternodes. It may cause a lot of movement in the FTO/BTC market. We will see if that will change the course of FuturoCoin’s price.
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