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- 1 FLR crypto chart shows a double-bottom formation; bounce expected.
- 2 Technical indicators are suggesting a significant trend reversal ahead.
The FLR price has settled the gains around the 100-day EMA support zone and is witnessing a double-bottom pattern on the charts. Moreover, the FLR crypto has finished its correction phase and is ready for a significant reversal. Following the market correction, the token has erased gains over 28% this month. The price action replicates a retracement and displayed lower low swings in the past sessions.
At press time, the Flare token (FLR) price traded at $0.03113 with an intraday drop of 4.33%, reflecting neutrality on the charts. It has a monthly return ratio of -13.22% and -.2.30% yearly. The pair of FLR/BTC is at 0.000000483 BTC, and the market cap is $1.20 Billion. Analysts are neutral and suggest that the FLR token may regain momentum and replicate a bounce ahead.
FLR Price Volume Profile Analysis On Daily Chart
The chart displayed the price-to-volume profile of the FLR crypto, which showcases a retracement, and sellers have pushed the token toward the 100-day EMA mark near its support zone at around $0.03000. However, the buyers have decisively held the gains and noted a double bottom pattern. The intraday trading volume jumped over 12.29% to $8.79 Million.
Price Volatility & Weighted Sentiment Outlook
Following the price rebound, the price volatility curve witnessed a significant surge of over 11.90% to 0.012. However, the weighted sentiment looks positive and stayed above the midline around 0.204.
Social Dominance and X Followers Insights
Per the Santiment data, the Social dominance data noted a spike from 2.40% to 0.022%, replicating increased media discussion reports among the investors. However, the X (formerly Twitter) followers data noted no interest and dropped over 23.89% to -333.
Development Activity and Total Open Interest Insights
The development data witnessed a significant decline of over 11.67% and dragged below the midline around 3.69, showing a neutral outlook. However, the derivative data signifies a short covering. The open interest dropped over 6.79% to $2.53 Million in the last 24 hrs.
Per the Fib levels, the FLR price is trading near the 38.2% zone and has taken support on the Bollinger Band. However, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts. Additionally, the MACD indicator noted a bearish crossover but suggested a significant pullback ahead.
The total supply of the FLR crypto is 100.72 Billion, whereas the volume-to-market cap ratio is 0.00730, ranked 83 in market cap in the global crypto market.
Summary
The Flare crypto price is hovering near the 100-day EMA mark, and bulls eagerly await a pullback ahead. However, the trend is negative, and bulls need adequate momentum to cross the 20-day EMA mark to revert the gains.
Technical Levels
Support Levels: $0.03000 and $0.02800
Resistance Levels: $0.03500 and $0.03800
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.
