- FLUX price is gaining bullish responses from the $0.8189 key point of interest (POI).
- The current price is trading between the crucial exponential moving averages.
- 24-hour trading volume has reached $21.70 million, with a massive rise of 200%.
Flux (FLUX) is a decentralized ecosystem that empowers users to develop, deploy, and use the decentralized Internet of the future Web3. Unlike many other projects calling themselves Web3 but using centralized infrastructure, the Flux claims to be a genuinely decentralized Web3 infrastructure without a single point of failure and 100% uptime. The ecosystem has been developing a Proof of Useful Work (PoUW) consensus algorithm to solve the PoW blockchain sustainability and other issues.
FLUX has Covered Almost 200% Returns in the Last Six Months
The FLUX crypto got investors’ attention in September 2023 from the $0.3054 support level. The price reflected over 130% of returns for four consecutive months. However, a negative drawback of 9.12% happened in January 2024 due to early sellings in the price.
In February 2024, the cryptocurrency experienced a massive rise of 79%, shifting the market sentiments to bullish. The shift positively impacted March 2024 with over 30% positive returns. The Flux price reached $1.7954 and faced some profit bookings, reflected in the current month.
There are 345.12 million FLUX tokens currently circulating in the market. The maximum supply of tokens is capped at 440 million. Flux cryptocurrency’s total diluted valuation is estimated at around $433.76 million. It has a current market capitalization of $340 million with a 24-hour trading volume of $21.70 million.
Price to Volume and Social Dominance Analysis
The cryptocurrency price started rising after February 9, 2024, positively impacting social media buzz. The price has constantly grown, whereas social dominance has strongly affected the trading volume. The social buzz is slowly fading in current sessions, but the cost and volume indicate a stable rise.
Technical Analysis of the Flux (FLUX) Price
The current market price is performing between the key exponential moving averages, reflecting uncertainty in the short trend. The 200-day EMA is a dynamic support for the price in the current session.
The FLUX price faced resistance from the $1.7954 resistance on March 18, 2024. The crypto price reflected over 40% opposing rally and broke below the $1.0251 demand level. The price has gotten some positive responses from the $0.8189 POI. If the Flux price gives a closing above $1.2663, it may claim the $1.7954 mark. The price may face a negative fall if the price slips below $0.7294.
The relative strength index (RSI) shows an internal bearish momentum divergence. This indicates the strength of the sales in the current sessions. The RSI is moving at 38.21 below the signal line.
Summary
Flux crypto prices have been performing with bullish sentiments since November 2023. The price reflected a bullish trend with almost 200% positive returns during the six-month session. The current price has gotten positive responses from the $0.8189 POI. If the Flux price gives a closing above $1.2663, it may claim the $1.7954 mark. The price may face a negative fall if the price slips below $0.7294.
Technical Levels
- Resistance Levels: $1.2663 and $1.7954
- Support Levels: $0.8189 and $0.7294
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.