- For the last 1 week, the price of the FLR crypto is trading in green and is up by 5.5%.
- The annual inflation of the Flare crypto is very high, as per Coincodex.
Flare Network facilitates blockchain interoperability through protocols like the State Connector and the FTSO, enabling smart contract functionality on blockchains like XRP Ledger.
FLR token incentivizes network use governance and secures the network. Founded by Hugo Philion, Sean Rowan, and Naïri Usher, Flare aims to bridge blockchain ecosystems seamlessly.
Flare Crypto has an excellent global presence with a market cap ranking of #77 per CoinMarketCap. Also, the market cap dominance of the crypto is 0.05%.
The total value locked for the Flare has witnessed an excellent advance over time, resulting in $8.92M at press time. Moreover, the total amount by the crypto is worth $11.3M.
The supply inflation of the crypto further is very high, resulting in 164.87%. This is followed by a total supply of 100.559B FLR and a circulating supply of 38.778B FLR.
The market cap of the Flare has been trading flat for the last 24 hours, followed by a slight advance of 0.78%. The value of the traded volume for the crypto further has increased by 1.55%.
With a bullish sentiment, the Flare is supported by a fear and greed index 71, suggesting that investors are currently displaying greed.
The crypto price is also highly volatile, followed by a volatility of 11.51%. Moreover, the value of the traded volume for the crypto in the last 24 hours from the press time is $6.002M.
The volume/market cap ratio of Flare crypto is 0.49%, which shows very low liquidity in Flare crypto. This could be a sign of lower crypto activity among traders.
Flare Crypto Derivatives Data Overview
On 12th April 2022, a vast long liquidation in the Flare crypto was witnessed. Since then, the activity in derivatives has declined. Moreover, the value of the derivatives traded volume for the crypto further has decreased by 23.6% in 24 hours from press time.
The open interest in Flare crypto further witnessed a surge of 6.5%, resulting in $3.33M. Moreover, the long/short ratio of the crypto is 0.9268.
From the time of writing, the short liquidation for the Flare is null, while the long liquidation is worth $3.66K.
Santiment Activity Overview
The development activity on the charts can be seen declining recently, while the social dominance of crypto is already low.
The following data behavior shows that the crypto blockchain might lack updates. It is also not famous and renowned among the crypto community as it has fewer Twitter followers.
Silence Before Storm Or Just Normal Consolidation In FLR Crypto?
The price of the FLR crypto at press time is trading inside a descending triangle pattern and is currently sustaining a firm support level.
If the crypto price breaks further above the triangle pattern and is sustained above the same, a surge in the crypto price to the next resistance level might be seen.
FLR/USD Chart by TradingView
The price of the FLR crypto is currently taking support at the 200-day EMA and is hovering between the 50-day and the 200-day EMA.
The Bollinger band is contracting from the expansion phase, indicating the possibility of further consolidation of the crypto price.
The MACD and the signal line further are trading in negative territory, while both metrics have formed a bullish crossover.
The RSI has also been consistently sustained below the 50 level for a long time, showing sellers’ dominance in the crypto momentum.
Summary
Flare (FLR) crypto faces high volatility and declining derivatives activity despite recent bullish price movements. With a bullish sentiment and low liquidity, FLR’s future remains uncertain.
Development activity is decreasing, and social dominance is low, suggesting potential stagnation or a forthcoming storm. FLR’s price is within a descending triangle pattern, signaling uncertainty.
Technical Levels:
- Support levels: $0.0160 and $0.0270
- Resistance levels: $0.0450 and $0.0560
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.