FLOW Price Anlysis: FLOW Token is making attempts to break out of a 5 month old bearish wedge

• FLOW Token Price has taken support at $ 4.30 on the daily chart
• The token has been on a strong bullish momentum over the last few trading sessions
• The coin is forming a rounding bottom on the hourly chart

FLOW Token Price has been on a bearish wedge pattern over the past several months as visible on the chart. The token has recently taken support at $ 4.30 on the daily chart. The coin also has been ,aking attempts to break out from the bearish wedge pattern. The volumes for the coin have seen a tremendous increase over the last month as the coin is making attempts to break the wedge pattern. It remains to be seen over the next few trading sessions if the coin is able to sustain the bullish momentum to break the wedge pattern.

FLOW Token Price is forming a rounding bottom on the hourly chart. The coin earlier broke out from an ascending triangle pattern. The coin has formed support at $ 6.30 along the rounding bottom pattern. The token has support at $ 4.30 at the base of the rounding bottom pattern. The coin has immediate resistance at  $ 7.60 levels. The volumes for the coin have been consistent and traders need to keep a watch on the token for any possible directional changes.

Conclusion:

The token has been on a bearish wedge pattern over several months and is making attempts to break out of the pattern on the charts. The coin has been receiving very good volumes and is on a bullish momentum.

Support: $ 4.30

Resistance: $ 7.60

DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish any financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew Smith

Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages ​​and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.