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- 1 FLOW crypto showcased an inverted hammer candlestick in the last session.
- 2 Buyers tried their best but failed to retain the $1 mark.
The FLOW price rebounded from the 200 day EMA mark and retested the $1 mark, but buyers could not succeed to hold. Afterward, sellers showcased their strength and an inverted hammer candlestick was noted on the charts. Moreover, the trend is bearish and the crypto still needs momentum to grab the round mark of $1 ahead. Per the price action, lower low structure was intact and bulls need to sustain above the $1.20 mark to revert the trend.
At press time, the Flow crypto (FLOW) price traded at $0.9543 with an intraday gain of 0.19%, reflecting neutrality on the charts. It has a monthly return ratio of -26.10% and 5.05% on a yearly basis. The pair of FLOW/BTC is at 0.0000148 BTC, and the market cap is $1.43 Billion. Analysts are neutral and suggest that the FLOW crypto may retain the $1 mark and will outperform ahead.
FLOW Price Volume Profile Analysis On Daily Chart
On the daily chart, the price to volume profile showcases a rejection in the last trading session. However, the trend is negative and buyers are struggling to regain momentum. Conversely, sellers have an edge and persist in adding short positions. The intraday trading volume jumped over 97.29% to $83.82 Million.
Price Volatility and Weighted Sentiment Outlook
Amidst the price rebound, the Flow crypto displays a sharp decline in the price volatility curve this week. The price volatility curve noted a drop of over 51.20% to 0.007713. However, the weighted sentiment looks neutral and stayed near the midline around -0.514.
Social Dominance and X Followers Insights
Per the Santiment data, the social dominance data witnessed a decline of over 9.09% to 0.206%, noting a fall in the discussion reports. However, the X followers data noted a bounce over 1.89% and jumped to 177.
Development Activity and Total Open Interest Insights
On the daily charts, the development data witnessed a stable move and stayed near the midline around 174, showing a neutral outlook. However, the derivative data signifies long buildup, the open interest spiked over 3.89% to $13.58 Million in the intraday session.
Per the Fib levels, the FLOW price is trading below the 38.2% zone and has retested its 23.6% zone. Similarly, the RSI curve stayed in the oversold region, and a positive crossover was noted on the charts. Additionally, the MACD indicator noted a bullish crossover and suggests a significant pullback ahead.
The total supply of the FLOW crypto is 1.50 Billion, whereas the volume-to-market cap ratio is 0.0582, and it is ranked 70 in terms of market cap in the global crypto market.
Summary
The Flow crypto price depicts a downtrend and is struggling to retain the $1 mark amidst a rebound. However, the indecisive move brought buyers and sellers under trouble. Volatility can be anticipated in the upcoming sessions.
Technical Levels
Support Levels: $0.9500 and $0.9300
Resistance Levels: $1 and $1.20
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
