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- 1 The FLR coin replicated a sharp pullback from the 50-day EMA this week.
- 2 Buyers are accumulating the coin and are eyeing to cross the $0.0500 mark.
The Flare coin (FLR) price highlights massive bull accumulation and has escaped the significant moving averages. Moreover, the coin signifies the bullish momentum and is heading to cross the 52-week high region near the $0.05700 mark. The trend is intact, and the coin replicates the bullish waves. A rounding bottom formation and a rebound from the 50-day EMA mark were noted on the charts. The price action revealed a sharp, gigantic up move of over 28%, indicating short covering moves.
At press time, the Flare coin (FLR) price was trading at $0.0445 with an intraday gain of 28.90%, reflecting bullishness on the charts. It has a monthly return ratio of -35.56% and 336.29% on a yearly basis. The pair of FLR/BTC is at 0.000000672 BTC, and the market cap is $1.64 Billion. Analysts are bullish and suggest that Flare coin price may resume the bullish waves and will soon cross the 52-week high mark of $0.05800.
FLR Price-to-Volume Profile Highlighting Sharp Buying Momentum
The above data showed the Flare price to volume profile, revealing the bullish stance. This week, buyer accumulation was noted, and the coin reverted from the 100-day EMA, leading to an intense surge of over 35%. Additionally, the coin has crossed the significant moving averages and retained the bullish territory. The intraday trading volume surged over 639.90% to $149.25 million, implying strong buying interest.
Price Volatility and Weighted Sentiment Outlook
Following the price rebound, the price volatility data showcased sharp fluctuations and crossed the midline. The volatility curve noted a spike of over 380% to 0.062, revealing intense movements this week. Similarly, the total weighted sentiment remained in the positive region, at around 0.236.
Social Dominance and Active Users Analysis
The data indicated a spike in the social dominance value and surged to 0.227%, replicating the positive stance and highlighting the increasing investor interest. However, the active users on the Twitter platform noted a drop of over 130% to 1951.
Development Activity and Open Interest Overview
The above data showcased the development activity and open interest outlook, revealing that the development data noted a regression and dropped to 0.571. However, the open interest increased by 2.37%, which signifies a long buildup, and the value surged to $5.10 million.
Per the Fib levels, the Flare price has crossed the 61.8%% zone and is near the upper Bollinger Band resistance zone.
The total supply of the FLR coin is 100.72 billion, whereas the volume-to-market cap ratio is 0.0925, 74 per market cap in the global crypto market.
Summary
The Flare coin price has outperformed, and an intense up move of 28% was witnessed in the intraday sessions. Buyers are aggressively adding long positions and are willing to cross the 52-week high mark of $0.05800 mark shortly.
Technical Levels
Support Levels: $0.04200 and $0.04000
Resistance Levels: $0.04800 and $0.05000
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.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
