FLUX Price Prediction: Is Flux Preparing To Reclaim $1?

• FLUX Price Prediction suggests that the market is under bearish influence as the prices are crawling at scary levels.
• FLUX Coin recovered 20% from its swing low.
• FLUX Crypto recorded a loss of 26.60% in last 3 months

FLUX Price Prediction portrays an image of a bear dominated market as FLUX price slides with each passing day.. FLUX Coin is trading at $0.457. The Market is down 0.45% in the last 24H.The 24H Volume witnessed a jump of 22.11%. The overall market cap of FLUX Token is $143,639,177.

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FLUX Price Prediction: A falling wedge may kickstart a bull season

The Daily time frame gives an overview of FLUX Coin Which has been on a selling spree since February. The Bears began dominating after the prices failed to breach the resistance of $1.118. A series of intense selling has made FLUX Crypto lose 60% of its value in the past 5 months.

FLUX Price Prediction highlights the formation of a falling wedge pattern. This could be an opportunity for the bulls to kickstart a bullish rally to the target price of $1.00 . It can help the market to recover almost 100%. The market did witness a moderate bounce from a very important support of $0.382.

Price tries to sustain the new support : Technical Indications.

The 4H chart helps to dive deep into the more recent price action. The bounce from support allowed the bulls to break the resistance of $0.431. The prices are holding the newly formed support and the buyers are patiently waiting for the breakout of the falling wedge.

Technical indicators suggest sideways price action . FLUX Crypto is still below the 200 EMA and bulls will have to work hard to flip it. Volatility could be around the corner as the prices inch towards the trendline of the falling wedge. Investors should wait for a strong volume supported breakout for an ideal position.

RSI: The RSI indicator is currently at 47.911 on the 4H. It represents weakness and market may consolidate in short-term

MACD: The MACD made a bullish crossover. The histogram has small bars which indicates the momentum is missing and the market may move sideways in the short-term.

200 EMA: As observed, on the 4hr, the price is trading below the 200 EMA(exponential moving average) which acts as a significant resistance. This is a clear indication of a downtrend where the sellers are in control and for a trend reversal, the price must break and trade above the 200 EMA.

Conclusion:

FLUX Price Prediction portrays an image of a bear dominated market as FLUX price slides with each passing day. However, A falling wedge pattern can be a way to escape the bear grips and transcend to a new bullish phase. This won’t be easy due to the strong sell pressure. Overall trend still remains bearish. Investors are getting attracted to the current prices as it may offer an excellent risk-to-reward ratio. It would be wise to follow a risk-management plan.

Technical levels

Support Levels: $0.431- Support 1

    $0.382 Support 2

Current Price: $0.457

Resistance Levels: $0.477 – Resistance 1

          $0.600 – Resistance 2

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.