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- 1 FLOW is currently trading at $0.505 while seeing a positive change of 84.56% in the 24-hour trading volume.
- 2 The FLOW price recorded a decline of 30.77% in the last 24 hours.
Recently, FLOW broke its support zone with a vital red candle. Investors’ sentiments may follow the price action of the overall market which is falling into a panic mode. After breaking its trend line with a strong red engulfing candle near end-April, the price is seeing a major selloff of 54% that occurred within the last two months.
Majority of the technical indicators are suggesting a bullish outlook concerning the near future with the price action. It will be extremely challenging for the bulls to take back control of the token as FLOW price is trading under the dominance of bears seeing a 35% decline.
The current value of the FLOW token is $0.505 and it has a market cap of $524.27 Million observing a slight surge within the past few days.
Appreciation in Major Parameters Regarding FLOW Price
The price is encountering a considerable increment of bullish sentiments among the buyers as opposed to the majority of the market presently. Investors regarding the FLOW price are seeing a surge in positive sentiments within the past few weeks. The total Bullish Sentiment metrics have appreciated by 58.75%.
The parameters in LunarCrush suggest that the buyers are projecting bullish sentiments regarding FLOW, though investors may stay cautious as the price is near the initial stage of a bearish breakout.
Technical Analysis of FLOW Price
The RSI line is moving near extreme oversold levels on the daily timeframe. The current value of the RSI is 15.26 points which is trading below 30 points. The value of 14 SMA is 29.79 points. As the RSI line is moving near an extremely oversold level, there is a possibility that the price may see a further decline in its value.
The stochastic RSI is shadowing the RSI line and price closely, it is trading near the demand zone. At present the value of the stochastic RSI is 0.00 points indicating that the price is extremely undervalued, though it does not guarantee that buyers may find this deal appealing.
Conclusion
According to the analysis, FLOW’s price is facing intense selling strain at present. The stochastic RSI and RSI oscillators are moving near severely oversold levels on the daily timeframe. Investors’ sentiments regarding the price may sink its value further.
Technical Levels:
Support –$0.200
Resistance – $1.000
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.
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.
