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- Flow price prediction suggests Flow crypto might hit $2.00 soon to showcase the uptrend.
- Flow price recovers 44% approx from the recent swing low.
- Flow crypto price hold the 50 day EMA but below the 200 day EMA.
Flow price prediction is highly bullish for the long term and expected to continue the upward momentum. Flow crypto price has bounced back sharply and recovered 44% approx from the recent swing low at $0.800 and formed a bullish reversal pattern. However, the prices took halt at the 50 day EMA and bulls were trying to keep the short term trend in the favor of bulls.
Flow price is trading at $1.112 with an intraday rise of 7.23% and 24 hour volume to market cap ratio at 0.1273. The pair of FLOW/BTC is trading at 0.00003966 with an intraday rise of 5.82% indicates the same direction in both the pairs. At the beginning of January, Flow price witnessed a massive spike in the buying volume which helped the bulls to push the price above the $1.00 mark.
Flow price had also succeeded to climb above the 50 day EMA and created hope for the bullish trend reversal. Later, buyers tried to push the price higher but failed to give up the follow up momentum and got stuck in the narrow range.
Flow crypto price consolidated for a few weeks in the range between $1.00 to $1.400 and attempted to expand upside but sadly it got rejected. Therefore, $1.400 will act as an immediate resistance for the bulls in the coming days. In the mid of February, the overall market sentiment started getting bearish which negatively impacted the Flow crypto and prices reverted in the downward direction.
Will FLOW price reach the Pre-FTX collapse level ?
Flow price had slipped below the $1.00 level which created a concern for its long term investors. However, luckily Flow crypto price took support at $0.800 and recovered half of the previous losses. Presently, Flow price is trying to sustain above the $1.00 level to bring back the confidence of the investors. The volume is still high in the Flow crypto and if price continues to rise upward then we might expect a rise in the buying volume. The technical analysis suggests, Flow price might reach the Pre-FTX collapse level if bulls succeed to break out of the $1.400 level.
Flow crypto technical indicators are revealing?
Flow crypto technical indicators are also turning mild bullish and favoring the direction of bulls. The probability of striking the $2.00 mark is high but the prices will pick up the momentum when it broke out of the previous consolidation zone. The MACD had generated a positive crossover and the curve is rising higher indicates bullishness to continue for some more time. The RSI at 54 sloping upward denotes the strength of the bulls and more upside is open for the bullish traders.
Conclusion
Flow price prediction is bullish for the long term as well for the coming few months. The technical analysis suggests that Flow crypto price is in the bulls grip and the probability of the continuing the uptrend is high. Flow price might hit the $2.00 mark if the bulls succeed to break out of the previous consolidation range mentioned above.
Technical levels
Resistance levels : $1.400 and $2.000
Support levels : $0.800 and $0.600
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
