- Flow price (COINBASE: FLOW) surged 2.63% on the past day and it is currently trading at $0.64.
- Flow Price (COINBASE: FLOW) whale-holding data states that whales hold a total of 43.6% of the supply with a decrement of 5.1% in the past 1 year.
Flow is a blockchain for the next generation of games, apps, and digital assets. It was created by the team behind CryptoKitties, Dapper Wallet, NBA Top Shot, and other consumer blockchain experiences. Flow is the only blockchain that makes usability improvements part of the protocol itself.
Flow price is currently trading at $0.64 with a decline of 2.63% in the past 24 hours. According to CoinMarketCap data, FLOW cryptocurrency holds a total market cap of $664.59 Million and ranks at 42nd position in the crypto market. It has received $106.57 Million in volume in the past 24 hours which is 194.5% more than the previous day. It has over 1.03 Billion in circulating supply. The volume-to-market cap ratio of FLOW coin is 15.80% which indicates mild volatility in the market.
Flow Price Prediction Using Price Action Strategy
The Flow price prediction (FLOW) showed a 40% drop in two weeks after consolidating. However, the Flow coin price bounced from the demand zone at $0.414 and tried to recover. The price surged by 67% in the next two weeks but failed to break the recent swing high. Thereafter, the price fell by 25% in the last week.
Source: FLOW/USD By TradingView
Moving on to the daily chart, the Flow coin seems to be forming an ascending broadening wedge. The price is headed upwards taking support from its lower trendline and forming higher lows. Currently, the price is consolidating near the lower trendline of the wedge which may act as a support and the price may bounce back from the support to reach up to $0.779. However, it needs more buyers to accumulate for the price to make a shift in its overall trend.
Indicator Analysis
As per EMA analysis, the FLOW price has given a breakout of 50 but got rejected from 100 EMA. It is currently stuck between 20 and 50 EMA. The price needs to surpass the hurdles of 100 and 200 EMA to continue upwards.
At the time of publishing, the RSI value of the Flow price is 52.18 and that of the SMA line is 52.01. RSI bounced back after entering the oversold zone. Currently, it has gone flat which indicates neutral to bullish sentiment in the market for now.
MACD lines are showing a bullish crossover. Also, histogram bars are formed above the mean line, indicating short-term bullishness in the market.
Conclusion
Flow (FLOW) coin price prediction concludes that the past 5 weeks have been very volatile as the price saw a decline of 40% after consolidation followed by a recovery of 60%. It failed to change the trend and slid by 25% in the past week. However, the price is consolidating near the lower trendline of the wedge. From here, it may get the buyer’s participation. And the price may again surge up to $0.779 to test sellers’ strength near the previous swing high.
Technical Levels
- The support levels of FLOW at $0.524 and $0.414.
- The resistance levels of FLOW at $0.779 and $0.97.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
