- Despite the two-day bullish outlook, Flow Coin again fell in the past 24-hours with an 11.8% drop in the past 24 hours.
- The trading volume has also declined by 44% in the last 24 days with the red volume bar.
- Flow coin and bitcoin pair price is up 6% in the green zone at 0.0000684 satoshis.
Flow continues to slide lower after breaking the descending wedge pattern on the daily price chart. Every effort of the bulls during the downtrend turned into a selling opportunity for the bears.
In the intraday trading session, the bulls witnessed an all-time low of inflows at the $1.38 mark, and uncertainty still remains in the altcoin, hence the coin price may fall further from here, it may note another low .
Despite a two-day bullish outlook, Flow Coin is down again last night with an 11.8% drop over the past 24 hours. Meanwhile, at the time of writing, Flow Token was trading at the $1.43 mark.
Flow’s market cap dipped below $1.5 billion due to yesterday’s downturn. If the Flow price breaks its recent low which may happen, then the Conceptual Round level- $1.0 will be the last hope of the bulls.
Trading volumes reflect speculators’ intentions slightly lower than at the beginning of May; Hence the volume has declined by 44% in the last 24 days with the red volume bar. Moreover, the price of Flow Coin and Bitcoin pair is up 6% in the Green Zone at 0.0000684 Satoshi.
Bears are aiming new all-time low
In terms of the daily price chart, flow price remains below key EAMs like 20, 50 and 100 against USDT. Also, the flow is below the red zone of the Super Trend indicator, indicating strong selling for the altcoin.
Moreover, the Stoch RSI is oversold and may reflect higher territory as its moving lines are moving upwards.
Conclusion
To avoid overselling, the bulls try to push the flow coin towards the $1.5 mark – recent resistance. But if the Flow price breaks its recent low, then the conceptual round level- $1.0 will be the last hope of the bulls.
Support level- $1.38 and $1.0
Resistance level- $2.0 and $3.3
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.