FLOW Technical Analysis: Look Out for $8.763 - Crypto News

FLOW Technical Analysis: Look Out for $8.763

Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. Flow is the only layer-one blockchain originally created by a team that has consistently delivered great consumer blockchain experiences: CryptoKitties, Dapper Wallet, NBA Top Shot. Let us look at the technical analysis for the same.

Past Performance

On Jun 23, 2021, FLOW opened at $0.627. It moved and closed at $0.0718. The last 24 hours have seen a fall by 3.02% when it has traded between $0.0788 and $0.0744.  FLOW saw a weekly gain of 4.67%.


Day-Ahead and Tomorrow

Currently, FLOW is trading at $8.638. The price has been in a range, trading between $8.710 and $8.677. Thus, the market can go either way.

The MACD line is very flat, hovering near zero. This shows the market right now is waiting for more volumes to pick up.

Currently, the RSI indicator is at 51%. It faced rejection at 61% and fell to the current level. However, the low trading volumes seem to indicate the market can go either way, and we can see activity in a few hours’ time.

However, the OBV indicator is upward sloping. Thus, buying volumes are higher than selling volumes. Thus, a balancing view is forming which will slow down the fall.

In short, the RSI and MACD oscillators have given bearish signals, while the OBV oscillator has given flat signals. Thus, we can say that currently, the overall market momentum is negative. But, we have to wait and watch, if the intermittent price rises are price corrections or indicative of a bearish trend reversal.

FLOW Technical Analysis

Currently, the price needs to break the first Fibonacci pivot resistance level of $8.744. It may soon move over around it and look further to touch the Fibonacci pivot point of $8.763. Thereafter, we have to wait and watch if the price starts rising or continues to fall.

The price has tested and broken out of the 23.6% FIB retracement level of $8.533. However, it may soon retest this level and fall below it. We anticipate the MACD signals to work out and give a push towards the positive direction where it can next cross the pivot levels of $8.891.



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