- Derivative volume for FLOW has risen by 164.40%, resulting in $76.05 Million.
- FLOW has a market cap rank of #57, as per Coingecko.
Flow Token (FLOW) is the native cryptocurrency of the Flow blockchain, created by Dapper Labs. It serves various functions, including transaction fees, staking rewards, collateral for secondary tokens, and governance. Flow, designed for scalable decentralized applications, was introduced in 2019 with a focus on blockchain-based games and collectibles.
FLOW reached its peak at $42.40 more than two years ago, and since then, the cryptocurrency has struggled to surpass this previous high. This prolonged inability to break the record suggests a lack of optimism among traders and investors over the past two years. Additionally, the current market cap of FLOW has witnessed a 3.85% decline in the last 24 hours.
The volume of the FLOW crypto has risen by 60.97% in the last 24 hours, but there has been no significant activity seen in the derivatives of the coin. The current volume/market cap ratio of FLOW is 8.07%. It has a total supply of 1.472 Billion FLOW.
TVL vs Volume Of Flow Crypto
The total value locked of the FLOW crypto has given a good advance over time. With this, the volume of the crypto has also increased. This shows good activity within the FLOW crypto community.
FLOW Coin Technical Analysis
The FLOW crypto price consistently declining to lower lows has formed a descending triangle pattern. The price has broken out above the triangle pattern and is forming higher highs. Thus, if the crypto price breaks above the previous swing high, it can lead to new highs.
FLOW/USD Chart by TradingView.com
The FLOW crypto price is trading above the EMAs, with a strong uptrend on the daily timeframe. The 20-day EMA has also broken above the 200-day EMA while the 50-day EMA is below the 200-day EMA. This has resulted in the formation of a death cross pattern.
The MACD is also bullish, indicating the potential for a retracement phase as it is above the zero level.
Conclusion
FLOW crypto has struggled to surpass its peak of $42.40 that was achieved two years ago, reflecting a lack of optimism. However, recent volume surges coupled with positive technical indicators signal potential bullish momentum.
Technical Levels
- Support levels for the FLOW Coin are: $0.3900 and $0.595
- Resistance levels for the FLOW Coin are: $1.090 and $1.897
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. Investing in or trading crypto or stocks comes with a risk of financial loss.