The FLR price recently broke its crucial support level on the daily timeframe. The price action signifies that the sellers are presently active and hold prominence when it comes to FLR tokens. As the value of the FLR token is breaching its important support level, there is a strong possibility that it may see a further fall in its value. The price of the FLR token is displaying a bearish three-candlestick falling crow pattern.
This candlestick pattern often indicates a negative reversal or continuation of a bearish trend. The majority of the technical indicators present a negative stance regarding the near future.
The oscillators RSI and stochastic RSI at present are both moving around extreme oversold levels. The current value of the FLR token is $0.1099 and it has a market cap of $797.17 Million.
Bullish Permaters In LunarCrush Regarding FLR Price
Investors observing the FLR price are witnessing a surge in bullish sentiments within the past few days. The total bullish sentiment metric has appreciated by 42.79%. The buyers’ optimism may succeed in salvaging the price from current levels.
There is a dramatic rise of 175.6% over the previous few days in total social engagement levels.
Greed and Fear Index of the Investor’s Opinions
The majority of market sentiments observed a fall of 5 points in the last few weeks, and as the values in the index have been almost stagnant for the past few months, the breaking of the neutral level is significant. According to the greed and fear index, provided by the Alternative (dot) me platform.
The bears are presently prominent in the price action, but they may surrender their control of price action to bulls within the next few months.
Technical Analysis of FLR Price
The RSI line is moving near the severe demand zone after giving an unfavorable interception to 14 SMA and the 30 RSI line on a one-day chart. Presently, the RSI line is trading at 14.01 points, whereas the 14 SMA is trending just above it at around 19.11 points.
The stochastic RSI has been moving near its extreme oversold rate. The %K line may shortly give an optimistic interception to the %D line close to 14 points. Currently, the value of the stochastic RSI is 7.09 points.
Conclusion
The price of the FLR token curently displays a bearish three-candlestick falling crow pattern which often indicates a negative reversal or continuation of a bearish trend.
Technical Levels:
Support –$0.4000
Resistance – $0.10000
