FLOW Price Analysis: Flow Crypto Price Witnesses Downturn As Bullish Strength Wanes

•FLOW/USD is currently priced at $1.49 and has decreased by 2.21% over the past day

•The technical indicators suggest weakening momentum for the altcoin

•The trading volumes have decreased by 9.76% over the past day

Short Term View: Bears looking to make a dent on Flow crypto price

The Flow crypto price today is $1.49 USD with a 24-hour trading volume of $17,386,929 USD. Flow crypto is down 2.21% in the last 24 hours. The trading volumes have decreased over the past day, suggesting increased profit booking occurring at the current price levels. The Volume to Market Cap Ratio stands at 0.01129 for the altcoin. 

After marking its all-time high of $46.16 on Apr 05, 2021, Flow Crypto price has sliced through these levels to hit $1.49 currently. The altcoin is currently reeling from the massive selling pressure that it finds itself in. Flow crypto is currently trading below the 20,50 SMA on the four-hour chart and there is still a massive wave of selling pressure yet to come. The support placed at $1.40 is of utmost importance to the bulls who will look to ward off the bears. In case of an upturn in fortunes, the bulls will try to encroach the resistance placed at $1.65.

Long Term View for Flow crypto 

The technical indicators for Flow crypto point toward the weakening sentiment prevailing in the market. The RSI currently stands at 40.61 after tumbling below the 14-day average line. The green histograms have waned in strength over the past few days, whereas the MACD and signal lines are transacting in the negative zone. Thus the technical analysis of Flow crypto presents the possibility of a bearish crossover occurring on the daily charts.

Conclusion 

The Flow Crypto price in the short time frame is no doubt heavily bearish and is sliding towards the lower support at a rapid pace. Hence we are likely to see the prices falling in the near future unless the bulls rise to the occasion. 

Support: $1.40-$1.30

Resistance: $1.50-$1.65

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.