- Flow coin price has melted by 37% in the last ten days.
- The trading volume has increased by 15% in the last 24 hours.
Flow price has been bullish since November and gained 230% till mid-March but failed to sustain the $1.70 mark and witnessed selling pressure. The bullish trend was disturbed near the $1.70 hurdle, and investors preferred to book profit, which has led to intense selling pressure, and the price has dropped by 50% till now.
Flow coin price has extended to a 52-week high of $1.70 mark on March 13, 2024. The FLOW price has declined by forming lower lows and has been unable to reach the last swing high. Flow crypto price has slipped the 200-day exponential moving average, indicating the selling pressure.
The current market price of Flow crypto is $0.845, and it has lost 0.12% in the last 24 hours. The market capitalization is $1.26 Billion, and the 24-hour trading volume is $61.90 Million. The circulating supply and total supply is 1,501,883,814 FLOW.
Flow Coin Price Technical Analysis Over 1-D Timeframe
On a daily time frame, the Flow crypto price has formed a descending triangle pattern. It has triggered a breakdown from the descending triangle and has slipped below the 200-day exponential moving average.
The Flow price is melting to the support level of $0.700. Suppose the price slips below the $0.700 mark and sustains, and then selling pressure can be expected. The price may record a new all-time low if the bears hold the grip.
Suppose the Flow crypto price bounces back and surpasses the 200-day exponential moving average; it may extend to the $1.50 hurdle soon. If the price sustains at the $1.50 level and triggers a breakout, buyers may become confident, and a trend reversal can be observed.
Regarding technical indicators, the Flow coin price has slipped below the exponential moving average, indicating the sellers’ dominance. RSI is 30, continuously dropping to the oversold zone, indicating the bears’ grip.
Flow Crypto Price Forms Descending Triangle on 4-H Timeframe
Based on the technical chart, the Flow coin price has formed a descending triangle pattern. If the Flow price slips below the support level of $0.825, sellers may dominate, and the price may witness free-fall momentum.
Alternatively, if FLOW coin price starts trading over the 20-day exponential moving average, the buyers may lift the cost to the $1 mark in a few days.
Flow Crypto Volume vs Price Analysis
According to the given data, the trading volume has dropped from $350 Million to $61 Million in a month, impacting the price negatively. In the past four days, the trading volume has decreased by approximately 65%, and the price has declined. Suppose the trading volume increases, and the cost may be positively affected.
Conclusion
According to the technical chart, the flow price has been bullish since November and reached a 52-week high. The bullish trend was interrupted near the $1.70, and sellers dominated further. Technical analysts suggest that if the price slips below the $0.700 mark, it may melt to a new all-time low, and if the price extends to the $2 mark, buying momentum for the long term can be seen.
Technical Levels
Resistance Levels: $1.30 & $1.70
Support Levels: $0.830 & $0.700
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.