- Following the last year, the price of the Flow crypto has remained the same.
- The crypto price is trading 133% above its all-time low price.
The Flow token powers the Flow blockchain, supporting scalable dApps with features like transaction fee payment, network governance, staking rewards, and backing for secondary tokens.
It also enables stablecoin creation, either fiat-backed or algorithmic, with FLOW as collateral. Created by Dapper Labs, it targets the gaming and collectibles industries, emphasizing accessibility and innovation.
The market cap of Flow Crypto has been trading flat over the last 24 hours and does not show any significant activity. The market cap for the crypto is $1.373B, which makes it the 64th largest cryptocurrency in the global cryptocurrency market.
The crypto’s volume/market cap ratio is 3.32%, and the circulating supply of the crypto is 1.503B FLOW. A similar total supply of crypto further follows this while the maximum supply is infinite and the fully diluted crypto market cap is $1.374B.
The crypto sentiment is bullish, followed by 13 green trading days in the last 30 days. The price has increased by just 3% in the previous 1 year. Despite this, the supply inflation of the crypto is very high, resulting in 45.08%. Also, the crypto volatility is exceptionally high, resulting in 16.55%, and the fear and greed index is at greed.
Flow Crypto Derivatives Analysis
The derivatives trading volume for the Flow has been witnessing a decline over the last few days. Also, in the previous 24 hours, a drop of 51.21% resulted in a traded value of $31.37M.
The open interest for crypto has further declined by 5.73% in the last 24 hours. It has resulted in $16.51M. The long/short ratio of the derivatives of the crypto is 1.0475. In the previous 24 hours, crypto again witnessed a higher long liquidation of $6.32K, while short liquidation for crypto was worth only $413.6. It represents the dominance of sellers in crypto.
Market Cap And Volume Comparison
The market cap of the Flow crypto has been consistently witnessing a decline over the last few days. Following this, the trading volume of the crypto has also been consistently declining.
Flow Crypto Technical Analysis
Flow crypto was taking support at a dynamic trendline, but the buyers failed to sustain the higher levels. The crypto price further broke down below the crucial support and is consistently declining to lower levels.
The price formed an inverted hammer candle, and the crypto price broke below the same. The following behavior of the price shows weakness in the trading price of the crypto.
FLOW/USD Chart by TradingView
The price of the Flow crypto has declined below the 200-day EMA, and the 20-day and 50-day EMAs have also been consistently declining. The following shows that the crypto price is losing momentum, and the sellers dominate.
The MACD metrics have declined below the zero level, and the MACD and the signal line overlap, showing uncertainty. Furthermore, the dominating trend of crypto looks bearish.
The RSI has also declined below the 50 level and is currently trading at 37.4. The 14-day SMA on the daily chart is also consistently declining.
Summary
The Flow token’s price decline below a crucial trendline signals weakening momentum. Despite bullish sentiment, with recent increases in trading volume, technical indicators suggest bearish dominance.
The price broke key supports, including the 200-day EMA, while MACD and RSI metrics reflect uncertainty, highlighting a bearish trend.
Technical Levels:
- Support Levels: $0.690 and $0.80
- Resistance Levels: $1.320 and $1.600
Disclaimer
This article is for informational purposes only and does not provide any 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.