Flow Price Analysis: Will FLOW Sustain at the Verge of Downward Sloping Line?

• Flow Price is trading below the negative sloping line over the daily price chart.
• The crypto asset is trading below 20, 50, 100 and 200-days Daily Moving Average.
• The pair of FLOW/BTC is at 0.00007835 BTC with an intraday drop of 1.38%.

Flow price is declining below a downward sloping line over the daily chart. The token is trying to sustain at the verge of the negative sloping line. FLOW investors need to wait until bulls come forward to maintain the flow of the token. The crypto asset currently falters below 20, 50, 100 and 200-days Daily Moving Average. FLOW must gather support from buyers to start its recovery towards the 20 EMA and then for remaining bullish hurdles. FLOW coin price is currently facing a crucial make-or-break situation. Flow bulls must sustain at the current level to register the token’s breakout. 

Flow price is presently CMP at $2.3 and has lost 3.84% of its market capitalization in the last 24-hour period. In contrast, trading volume has increased by 66.82% in the intraday trading session. This shows that bulls are still in the game and they may try to push the token from the barrier of the negative sloping line. Volume to market cap ratio is 0.0187.

FLOW token price must gain uptrend momentum to avoid being caught below downward sloping line. However, bulls tried multiple times before to register the token’s breakout from the downward sleeping line but failed to sustain and bears pulled the token back. Gradually falling volume bars signifies FLOW being caught below the negative sleeping line. FLOW coin price must gather support from buyers to register its breakout.

What do Technical Indicators Suggest about FLOW?     

FLOW investors have been waiting for the token to successfully breakout of the downward sloping line. However, FLOW bears kept on trapping the token inside the bearish trap. FLOW keeps on sticking inside the short-sellers clutch below the negative sleeping line. This time bulls must accumulate themselves to successfully register FLOW coin’s breakout. Technical indicators suggest the downtrend momentum of FLOW coin. Relative Strength Index showcases that FLOW is trading towards the oversold territory. RSI is at 33 and FLOW investors can expect any directional change as soon as RSI crosses below 30.

MACD exhibits bearish momentum of FLOW coin. The MACD line is above the signal line and is heading towards it to register the negative crossover.

Conclusion  

Flow price is declining below a downward sloping line over the daily chart. The token is trying to sustain at the verge of the negative sloping line. FLOW investors need to wait until bulls come forward to maintain the flow of the token. Technical indicators suggest the downtrend momentum of FLOW coin. RSI is at 33 and FLOW investors can expect any directional change as soon as RSI crosses below 30.

Technical Levels

Support Levels: $2.00 and $1.50 

Resistance Level: $3.00 and $4.30

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.