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- 1 FLOW price prediction suggests a significant increase in its value is possible.
- 2 Flow token price is trading near the six-month high.
- 3 The EMAs in the Flow Crypto displayed a golden crossover.
FLOW price prediction stays bullish for the short term and suggests a significant increase in its value is possible. This token’s price is inside the bulls’ grip and rising upward by forming higher high swings.
The Flow crypto price sustained above both the EMAs, showcasing an uptrend. Moreover, the 50-day EMA positively intersected with the 200-day EMA and displayed a golden crossover. It attracted the attention of the investors and seems like new bullish traders have participated in the up move.
In the last two months, Flow token has performed well and rewarded short-term investors. At present, the price is near the six-month high value and spending time in a narrow-range consolidation.
If the range-bound trading continues for a few more weeks, it might be an indication of the base formation.
The previous rally in Flow looks reliable because it is supported by decent buying volume. Therefore, buyers will try their best to take control of the $0.900 supply zone in the future to show their dominance.
At the time of writing, the FLOW price is trading at $0.867 with a one-day increase of 3.09%. The volume to market cap stands at 8.43% denoting liquidity is quite low.
Will FLOW Price Go Beyond $1.00 Supply Zone?
FLOW price surged approximately 10% in the last two trading sessions. Buyers are aggressive and seem like they are getting ready to break the $0.900 barrier. If they succeed, the Flow token may show a sharp rise and go beyond the $1.00 mark.
The chart pattern looks bullish so the probability of the breakout remains high and a 10% to 20% rise may be possible from current levels. However, if the price faces rejection for the $0.900 level, it may retrace back to the 50-day EMA.
When Flow Crypto Price Gain Momentum?
Flow crypto price forming a bullish pattern on the daily and weekly time frame chart. The price will pick up momentum and trigger the next phase of the rally after it breaks out of the $1.00 supply zone.
The MACD curve is sloping sideways denoting that more consolidation is possible before resuming the rally. Whereas, the RSI at 63 sloping upward, which indicates the strength of bulls and sudden rise may be visible anytime.
Conclusion
FLOW price prediction stays bullish for January 2024 and suggests bulls will lead the rally. It consolidates near the supply zone and forms a strong base which might force the sellers to step backward.
The analysis suggests that the Flow token is undervalued and it is likely to achieve $1 mark and trade above it soon.
Technical levels
- Resistance levels: $0.905 and $1.078
- Support levels: $0.596 and $0.501
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
