FLO/USD - Watch this oneLots of buzz building around FLO due to partnerships with Medici Ventures and the implementation of the Open Index Protocol into projects including CalTech Tomography Database, Medici Land Governance, Ravencoin, Publish.io, tZERO.
This could be one of the big winners for 2019. FLO is illiquid and somewhat scarce: it was created in 2013 and has already mined 151,000,000 of the 160,000,000 max supply. DYOR
*This is for informational purposes only and is not investment advice
FLOUSD
Florincoin Is Expected To Double In ValueFlorincoin has corrected down massively since reaching the $0.4 high. Price went south as much as 85%, hitting the $0.06 low. FLO/USD broke below the 88.6% Fibonacci retracement level as well as the uptrend trendline. Nevertheless, price recovered very fast and went up to $0.0135 breaking above the descending channel.
Current correctional wave down was stopped by 88.6% Fibs at $0.087, which this time is being rejected, together with the uptrend trendline. While the consolidation could continue, Frorincoin should produce a wave up at some point, if the support will be respected.
The first upside target is at $0.18, and the second is $0.22, that is 100% growth potential from the current price.
FlorinCoin ReversalFlorinCoin 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.
Floricoin - The Next WaveFloricoin has been consolidating from June up until December when it broke above the strong resistance that was formed at $0.11. Prior to breaking above, FLO/USD rejected the uptrend trendline and the 200 Moving Average and then immediately jumped from $0.085 up to $0.33, gaining almost 300% in just 10 days.
The corrective wave down followed, where Floricoin rejected the $0.11 support and perhaps now its time for the next strong wave up. The first resistance is seen at $0.38 area where 327.2% Fibonacci retracement is located. Break above that resistance should indicate that the uptrend is not over, while a rejection of the resistance could trigger a correction down. Only a break and close below the 200 Moving Average could invalidate bullish outlook.
