Cryptocurrency
by Martin on April 5, 2018

Feathercoin Forecast – 0.07 is the target

Feathercoin is our next crypto in today’s analysis. Market cap of the FTC is much smaller than the Zcoin, which we also wrote about today and is around 36.8 millions USD. What I like about the Feathercoin is that despite the low liquidity, it respects the technical analysis principles a lot.

A quick look into the technical situation of FTC.

Most of the altcoin look the same. Huge upswing in December and huge drop since the middle of January. Feathercoin has it too but the March price swings look a bit different. What we have here is a flag formation (blue lines), which was a very technical correction but in the same time an invitation to go south (after the breakout of the lower blue line). What is more, FTC had a false breakout (green rectangle) above the 0.25 resistance (black). False breakouts usually result in the movement in the opposite direction and that is what we are having now.

Feathercoin chart

The last hope for the FTC is the long-term up trendline (green) but when we look into the big picture on cryptos, we see that this one should also be broken soon. The target for the Feathercoin is the area around the 0.07 USD (red).

By Martin

Martin is a professional trader with 7 years of working experience in a Cyprus based brokerage. After the experience, he moved to the UK where he became a financial news reporter at a local news outlet. His years of experience of trading helps him deliver the most quality news, while also analyzing the impacts of it on various markets.

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