- In the last 30 days, the FLOW crypto has given a return of 10%.
- The crypto price is trading 95% above its all-time low price.
Flow is a blockchain platform for scalable and decentralized applications, especially games and digital assets. The Flow token (FLOW) is used for fees, governance, staking, secondary tokens, and stablecoins. It was created by Dapper Labs, a company behind popular blockchain games and collectibles.
Launched in the year 2020, the FLOW crypto hit its all-time high price of $42.40 in April 2021. The trading volume of the FLOW crypto has advanced by 0.56% in the last 24 hours. It has resulted in a traded volume of $46.739M.
The market cap of the FLOW crypto has declined by 2.84% in the last 24 hours. It results in a market cap rank of #62nd as per CoinMarketCap. Also, the volume/market cap ratio of the crypto is 4.14%.
The current market cap dominance of the Flow token is 0.068% and the max supply of infinity. However, the current circulating supply of the crypto is similar to its total supply resulting in 1.476B FLOW.
Flow Crypto Derivatives Analysis
When compared to the short liquidation of the FLOW, it has witnessed a huge long liquidation of $74.25K. It further resulted in a derivatives traded volume of $40.02M, which has witnessed a decline of 18.5% in the last 24 hours.
Also, the open interest of the crypto has declined by 4.19%, resulting in $21.5M and the long/short ratio of the crypto is 0.938.
FLOW Crypto Technical Analysis
The consistent decline in the trading price of the flow token led to the formation of the descending triangle pattern. Also, the trading price has recently broken above the following pattern and is advancing towards new highs.
This further follows a strong uptrend on the charts leading to a strong bullish candle on the weekly timeframe and then a baby candle. If the price of the crypto breaks above the high of the baby candle, the trading price of the crypto can skyrocket.
FLOW/USD Chart by TradingView
Followed by a golden cross of the 50-day and the 200-day EMAs on the charts, the trading price of the crypto is consistently advancing to a higher level. It shows the dominance of the buyers in the crypto price.
The RSI on the daily chart of the FLOW crypto is trading in a bullish cycle indicating bullish momentum. It shows that the trend of crypto is bullish and is trading in a buy-on-dip structure.
Conclusion
Flow is a blockchain platform for games and digital assets. The FLOW token has broken above a descending triangle pattern, indicating a bullish trend. The technical indicators support the upward movement. Therefore, if the crypto price breaks above the level of $0.885, we might get to see higher levels in the crypto price.
Technical Levels
- Support levels- $0.390 and $0.60
- Resistance levels- $1.350 and $1.780
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.