FLOW Technical Analysis: Price May Touch New Highs Soon


Flow is a safe, speedy, and user-friendly blockchain interface that facilitates the development of new-age games, decentralized apps, and digital assets. It provides the basis for the development of internet-scale protocols and apps that require a high-quality user experience. FLOW is the prime governance token of this ecosystem.

Past Performance

On April 17, 2021, FLOW started trading at $36.56. As of April 23, 2021, FLOW closed at $25.96. Thus, in the past week, the price has dropped by roughly 41%. In the last 24 hours, FLOW has traded between $25.93-$28.31.

FLOW PRice analysis

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Day-Ahead and Tomorrow

Currently, FLOW is trading at $27.84. The price has increased from the day’s open price of $25.96. Thus, the market seems to be uptick.

The MACD and signal lines are positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the market momentum is positive, and we can expect the price to rise further.

The RSI indicator is presently at 78%, deep into the ‘overbought’ region. Thus, buying pressures are very high. High demand for crypto is likely to push the price upwards. Hence, the price is expected to go up further.

The A/D indicator has also risen steeply. This implies that whale accumulations are much higher than whale distributions. Thus, all three oscillators have given strong bullish signals. The market momentum is positive and the FLOW price may touch new highs soon.

FLOW Technical Analysis

As per technical analysis, the price has surpassed the first Fibonacci pivot resistance level of $27.64. In some time, the price is likely to break out of the subsequent resistance levels of $28.20 and $29.11, respectively.

The price is soon likely to break out of the 138.2% FIB retracement level of $29.22. Thus, the bullish forces are very strong, and we can expect this positive market momentum to continue tomorrow as well.

 
 



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