- Flow coin is about to hit its all-time low once again during a bearish trend.
- Flow Coin has registered a 67% drop in its trading volume in the last 24 hours.
- The flow coin belonging to the bitcoin pair is in the 7% red zone on 0.00008212 satoshis.
Flow Coin is barely making up for its losses, but each effort is a perfect selling chance for the bears. Flow continues to maintain expenses above the 52-week low as well as the weekly low, but given the current situation, Bulls are likely to reach their previous low lower.
Short sellers are looking aggressive near the $3.3 mark. However, the $2.0 level appears to be the last hope for the bulls to reverse the bearish trend of Flow coin. Meanwhile, for the past seven weeks the bulls see solid bearish candles in the context of the weekly chart.
With downward momentum, Flow coin is trading at the $2.3 mark at the time of writing. Thus, the market cap fell by almost 10% to $2.4 billion, according to CMC’s data for the last 24 hours.
Volatility has fallen dramatically, therefore, the price behavior of Flow Coin is not moving much nowadays. On the other hand, traders saw an increase of over 67 percent in trading volume last night. Furthermore, the volume to market cap ratio is 0.03226.
In the context of the daily price chart, important exponential moving averages such as the 20 and 50 f are well above the FLOW coin’s current price.
RSI will remain in oversold zone this week
On the daily price chart, the RSI is again going to dip into the oversold zone. If Flow Coin manages to hold its coin above the 52-week low, the indicator could be showing a bullish signal.
Furthermore, the ADX flow shows extreme bearish momentum for the coin.
Conclusion
Hence, buyers should wait for bullish signals. On the other hand, if the bulls fail to collect the price of Flow Coin then there could be a further downside.
Technical Levels
Support level- $2.0 and $1.0
Resistance level- $3.0 and $5.0
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.