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- 1 The FLOW price is supported by the EMAs, which act as a cushion and keep it from dropping lower.
- 2 FLOW cryptocurrency is trading at $0.664 with a 1.84% increase in the last 24 hours.
Flow crypto is an open-source smart contract platform that can manage unlimited capacity and complete transactions in less than two seconds.
Its fast transaction confirmation time makes it an excellent choice for financial transactions and enterprise-level blockchain solutions.
Additionally, Flow is fully integrated with Ethereum development tools, ensuring compatibility. It allows millions of freelancers to participate as full developers. It is also worth noting that Flow crypto is an environmentally friendly blockchain platform.
The Assets mainnet launched in September 2020, marking a major milestone for the blockchain ecosystem and providing new opportunities for many stakeholders, including developers, investors, and businesses.
Flow supports the creation of stability coins, which are cryptographic tokens whose value is pegged to a stable asset, such as a fiat currency or basket of funds. There are two types of stablecoins backed by blockchain:
Fiat-backed stability coins: These are fungible tokens whose utility is based on the equivalent fiat currency for most of the bank supervision. Fiat-backed stablecoin holders still require a minimum FLOW balance.
Algorithmic Stablecoins: These stablecoins use FLOW tokens as a commodity to create secondary tokens whose utility is adjusted to stabilize their value relative to fiat currencies. The Flow ecosystem has collected a large number of FLOW tokens to provide products for the use of at least two algorithmic stablecoins on the network, and its stability stems from the native FLOW token itself.
Flow Token is Flow’s native cryptocurrency blockchain designed to support high-capacity and interactive applications including gaming, storage and other digital assets.
The FLOW crypto is trading at $0.664 with a 1.84% increase in the last 24 hours. The FLOW token has experienced remarkable growth over the past three months, with its price surging by 54.42%.
Furthermore, it rose by 27.45% last month; and by 5.06% in the previous week. This shows that the FLOW crypto is in a strong bullish trend.
If the buyers maintain the pressure, FLOW price could surge from the current level. The next target for the FLOW price is $01300.
However, if the FLOW crypto fails to stay above the $0.1100 level, it could decline further.
The FLOW price is trading above the 20-day and 50-day exponential moving averages. The FLOW crypto price is supported by the EMAs, which are acting as a cushion and keeping it from dropping lower.
This indicates that the EMAs are acting as a strong support for the FLOW price, as they are following the price and stopping it from falling more. Therefore, the FLOW price trend is positive and rising steadily.
Technical Levels
Support Levels: $0.600
Resistance Levels: $0.700
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
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.
