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- 1 The price of the Flow network is trading at $0.603839 at press time.
- 2 Flow price observed an increase of 1.84% over the last 7 days.
- 3 The market capitalization of FLOW is $627358011.
FLOW Price has been on a downtrend for a long time and has been dropping from its peak levels and forming lower low patterns. The coin’s price declined by 1.90% in the last 24 hours.
The price data for Flow shows that the market sentiments about Flow are negative. However, the price rose by 1.84% in the past seven days. From its highest price of $42.40, it dropped -98.58% in 2 years, eating into investors’ wealth. The volume chart is disappointing with the buyers missing.
FLOW Technical Analysis
The price of FLOW has slipped below 50 and 200 MAs with a bearish crossover that shows the influence of sellers in the market. If sellers continue to drag the market lower, Flow could suffer more declines and go into a downtrend. A bearish cross was seen on the chart in recent times which is a negative sign.
The RSI line has been trading near the oversold zone. The RSI line is around 51.25. The 14 SMA has a value of 52.14 points indicating that the FLOW Coin market is in the oversold zone. However, we might see a considerable fall in the price of Flow shortly.
Right now, MACD is giving bearish signals. The MACD line at 0.012 and signal line at 0.02 is above the zero line, suggesting that the MACD is in positive territory and is giving neutral signals as of now.
Volume Analysis: The FLOW trading volume of 24 hours is $12696516 with a -55.00% drop in volume in the past 24 hours. There is no significant increase in the volume of the coin.
Technical Levels:
- Support – The current support level is $0.418.
- Resistance –The current resistance level is $0.777.
Conclusion
FLOW is struggling in the market. Based on the current data and analysis, we can conclude that it is under the bear’s dominance. The price action indicates that the price might drop further in the next few days as the price breached its major trendline support level. FLOW’s price reflects a negative scenario at the moment. Major trustworthy indicators like EMA, RSI, and MACD are giving bearish signals about the FLOW coin. The fear is increasing among investors because of the weak performance of the coin. Recovery signs are not evident in the coin as of now.
Disclaimer
The analysis given in this article is for informational and educational use only. Do not use this information as financial, investment, or as trading advice. Investing and trading in crypto is a risky task. Please consider your circumstances and risk profile before making any investment decisions.
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.
