- In the last 1 year, Flow token price was outperformed by 71% of the top 100 crypto assets.
- Higher long liquidations in the token price were recorded in the last 24 hours.
The Flow token had strong market financials, and as per CertiK Skynet, the token’s financial score was 94.46/100. It was the 68th largest cryptocurrency in the global crypto market.
Price Overview Chart of FLOW | Source: CoinMarketCap
The Flow token market cap value was $1.052B, which resulted in a market cap dominance of 0.04%. A surge of 17% in the value of the token’s traded volume was recorded. It resulted in a traded value of $50.819M, which was just 4.86% of its market cap.
The circulating supply of the token was 1.521B FLOW, which was similar to its total supply. Also, the maximum supply of the token was infinite, and the token’s fully diluted market cap was worth $1.061B.
The Total Value Locked for the Flow token was worth $23.25M and consistently advanced over the last few days. It was further followed by a stablecoins market cap of $10.77M, and the total raised amount by the token was $21.0M.
Flow Token Derivatives Data Analysis
In the last 24 hours, the Flow token witnessed higher profit booking in its long positions. It was followed by an advance of 0.90% in the open interest over the last 24 hours.
Flow Token Derivatives Volume Chart | Source: Coinglass
The value of the derivatives traded volume for the token advanced by 62% in the last 24 hours. It resulted in a traded value of $67.88M, while the volume chart showed no significant change.
Also, the longs worth $54.38K were liquidated over the last 24 hours. Against this, shorts worth only $7.02K were liquidated, showing sellers’ dominance.
FLOW Token Technical Analysis
A significant downtrend is evident on the Flow token’s chart, characterized by a pronounced lower-low structure on the daily chart.
From its swing high of $1.698, the token’s price has plummeted by 70%, resulting in a bearish market structure.
Recently, the FLOW token found support at lower levels, prompting a 40% price recovery from its swing lows. Despite this notable surge, the overall market structure remains unchanged and bearish.
Flow Token Technical Indicators Analysis
The Flow token price has declined below the 50-day and 200-day EMAs, leading to a death crossover formation as these moving averages intersected.
FLOW/USD Chart by AMANDA_TMP TradingView.com
In terms of technical indicators, the MACD line has advanced above the zero level, while the signal line remains in negative territory. This divergence suggested mixed signals in the token’s momentum.
Furthermore, the RSI has risen above the 50 level and maintained this position, accompanied by a breakout above the 14-day SMA. This development indicates a bullish momentum in the token’s price.
Despite a recent 40% price surge from lows, the Flow token faces potential resistance. Its market structure remains bearish, with a 70% decline from its swing high.
Mixed technical signals and higher long liquidations indicate uncertainty, although solid financials and a bullish RSI suggest possible upward momentum.
The Flow token price might take support at the level of $0.450 and $0.60, and the resistance levels of the token are $0.90 and $1.30.
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.
