Flow price has been in a strong declining trend wiping out 61.08% of its value in the past 6 months and continued with the same momentum to decline more than 5% in the last week and hit an all-time low of $0.4005.
The price broke the previous all-time low which the crypto had created in June 2023 after which buyers showed some interest and the price surged. The buyers tried a recovery but faced selling pressure from the upper supply zone.
The price also seemed to respect a trendline and faced multiple rejections. Recently, the price slid down from the trendline resistance and hit a new all-time low and consolidated.
Flow Token (FLOW) is a blockchain for the next generation of digital experiences. It is fast, decentralized, and developer-friendly. It was built by the same team that created CryptoKitties, Dapper Wallet, NBA Top Shot, and other popular consumer blockchain products.
Flow Price Hit An All Time Low After Suffering Rejection From Trendline Resistance
The short-term outlook for the FLOW price remains bearish until the price trades below the trendline resistance. The price may decline further if fails to gain the support of buyers from the lower levels.
The volume analysis states that the FLOW Coin has received $25.955 Million in the past 24 hours with a decline of 2.03% in the past 24 hours. Crypto has a circulating supply of 1.45 Trillion. The volume to market cap ratio is 5.44% indicating low volatility in the market.
RSI And MACD Showing Weakness Over The Daily Chart
MACD lines have made a bearish crossover. Also, histogram bars are being formed below the mean line but decreasing height indicating a neutral to bearish sentiment in the short term.
As per the EMA Analysis, the FLOW price is currently trading below the 50 and 200 EMA indicating weakness prevailing in both the short-term and long-term.
Conclusion
Flow price prediction concludes that the price price has been falling sharply and reached a new all-time low of $0.4005. The price broke the previous low after suffering resistance from an upper trendline. The short-term outlook is bearish until the price breaks above the trendline. The volume-to-market cap ratio is 5.44%, indicating low volatility. The crypto has a circulating supply of 1.45 Trillion.
Technical Levels
- Support levels: $0.438 and $0.4011.
- Resistance levels: $0.558 and $0.605.
