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- 1 Buyers have not shown any strength in the flow coin for a long time.
- 2 The market cap of the FLOW coin is consistently declining to a lesser value.
The FLOW coin was launched in the crypto market on 15 May 2020. It is a native cryptocurrency of the Flow blockchain. It is designed to support scalable and decentralized applications. One of the best features of this platform is that it supports complex smart contracts and applications that require high throughput and low latency. The FLOW coin was created by Dapper Labs. A company that is known for blockchain-based games.
The spot volume for the FLOW crypto has declined by 27.51% in the last 24 hours, resulting in $15.93M. It is followed up by a market cap of $456.256M of the crypto. The market cap has declined by 0.86% in the last 24 hours. The FLOW crypto has a volume/market cap ratio of 3.54%.
The FLOW crypto has a market cap dominance of 0.042% and the current market cap rank of the coin as per Coingecko is #78. The coin made an all-time high of $42.40 on 05 April 2021. The share is currently trading 98.96% below the all-time high price. The price of the Flow coin has also declined by 1.1% in the last 24 hours trading session.
Flow Token Price Technical Analysis
The Flow token’s price has been consistently declining for a long time. The coin price is showing zero signs of reversal. The crypto is trading in a negative market structure, making lower low swings. It represents the presence of sellers in the market.
The EMAs are also acting bearish for the coin. The 50-day and the 200-day EMA are trading in a death cross. That shows a weakness in the trend of the crypto. The RSI for the coin is also volatile and has crossed above the 50-level, but could not hit the overbought zone.
Conclusion
The FLOW crypto is trading in a downtrend showing no signs of the bulls. Also, there is no significant activity in the flow coin’s community. The EMAs are totally bearish and the RSI is uncertain to bearish.
Therefore, the price of the FLOW coin can stay volatile to negative unless the coin reverses with huge volume.
Technical Levels
- Support levels for the Flow Coin are: 0.000200 ETH and 0.000250 ETH
- Resistance levels for the Flow Coin are: $0.000850 ETH and $0.001160 ETH
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
