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- 1 FLOW crypto price is currently trading above the key moving averages.
- 2 FLOWUSD crypto price was trading with strong upward momentum.
The Flow token is the main digital currency of the Flow blockchain, which was built to enable fast and decentralized apps, such as games, collectibles, and other digital assets. The token has various roles in the Flow ecosystem, such as paying for transaction fees, rewarding validators for staking, backing up secondary tokens, and participating in on-chain governance.
The Flow token has a special feature that allows it to support complex smart contracts and apps that need high speed and minimal delay. To do this, the Flow network uses a different structure that splits computation and storage into separate layers, which makes processing more effective and performance better.
The Flow token is useful for many things in the Flow ecosystem, such as for paying transaction fees, network governance, staking rewards, and secondary tokens.
What Happening on the Technical Chart of FLOW Crypto
FLOW crypto price has recovered above 200-EMA and is taking support on it. FLOW crypto (FLOWUSD) is showing bullish strength and is aiming for the $1.00 mark.
This positive trend suggests a possible upward movement for FLOWUSD crypto, with a projected goal of $1.00. Therefore, buyers are likely to keep their long positions in the crypto.
FLOW crypto is trading above the key moving averages, indicating bullishness. Moreover, based on the recent trading sessions, the chart structure shows a favorable bias for buyers.
The crypto has gained momentum and is ready for a possible upward move, with a target of $1.00. The increased activity and traction also support the optimistic outlook for FLOWUSD in the market.
At press time, crypto was trading at $0.658 with an intraday loss of 2.58%, showing bullishness and a positive outlook. Furthermore, the intraday trading volume was 47.418 Million, and the market cap was $968.05 Million.
Indicator Analysis of FLOW Crypto Price on Daily Time Frame
Currently, FLOW crypto (USD: FLOWUSD) is trading above the 50 and 200-day daily moving averages (DMAs), which are supporting the price momentum. The current value of RSI is 58 points. The 14 SMA is above the median line at points which indicates that the FLOW crypto is bullish.
The MACD line at 0.043 and the signal line at 0.040 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the FLOWUSD crypto price.
Stochastic RSI is floating near the oversold level. The %D and %K lines make a negative crossover between them though it is yet to intercept the 8.42 RSI zone. The present value of stochastic RSI is 8.42 points.
Weekly Stats FLOW Crypto
The weekly chart of FLOW crypto reveals that the sellers are dominant. The crypto has been on a downward trend as it is trading below the key EMAs.
The technical indicators also confirm the bearish sentiment, as the RSI is near the neutral zone at 51 and the MACD formed red bars and a bearish crossover. These signals indicate that the crypto may face more downside pressure in the coming weeks.
Summary
FLOW (FLOWUSD) technical oscillators also support the bullish trend. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the FLOWUSD crypto price. The FLOW price is expected to move upward giving bullish views over the daily time frame chart.
Technical Levels
Support Levels: $0.473 and $0.393
Resistance Levels: $0.740 and $1.00
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
