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- 1 FLOW is currently trading at $0.465 while seeing a positive change of 21.98% in the 24-hour trading volume.
- 2 The FLOW price recorded a decline of 7.11% in the last 7 days.
The FLOW price is currently observing a severe decline after breaking its support zone with a vital red candle. Investors’ sentiments are currently in the extreme fear zone according to oscillators. Since breaking its support line with a strong red engulfing candle near the end of April, the price is presently seeing a major selloff of 40% within the last two months.
The majority of the technical indicators are indicating that the price may attempt to make a positive recovery or a consolidation after a grave fall. It may prove to be extremely challenging for the bulls to take back control of the token. The FLOW price is presently trading under strong selling pressure and the candlestick pattern indicates that sellers hold prominence in the market.
The current value of the FLOW token is $0.465 and it has a market cap of $482.83 Million observing a slight surge within the past few days.
Depreciation in Major Parameters Regarding FLOW Price
The price is at present seeing a sharp decline of bullish sentiments among the buyers which is also being reflected in the price action. The total Bullish Sentiment metrics have depreciated by 48.92%.
The parameters in LunarCrush suggest that the buyers are not positive regarding FLOW, the investors may prefer to remain cautious as the price moving is near the initial stage of a bearish breakout.
Technical Analysis of FLOW Price
The RSI line is trading near extreme oversold levels on the daily chart. The current value of the RSI is 15.57 points which is trading below 30 points. The value of 14 SMA is 18.63 points. As the RSI line is moving near an extremely oversold level which indicates that the price is presently undervalued.
The stochastic RSI is following the RSI line closely, it is making a bullish curve near the demand zone. At present the value of the stochastic RSI is 12,59 points also indicating that the price is extremely undervalued.
Conclusion
According to the analysis, FLOW’s price is facing intense selling strain at present. The stochastic RSI and RSI are moving near severely oversold levels on the daily time frame indicating that the price is presently undervalued. The Flow token is consolidating, which indicates that the selling pressure is easing.
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.
