- FLOW Token price action indicates a bearish fallout in the daily chart.
- The 24-Hour trading volume is $182 Million, a rise of 52% in comparison to yesterday.
- The pair of FLOW/BTC is trading at 0.0002711 BTC with an intraday fall of -5.73%.
After the recent short-term rise, the FLOW coin price falls below the solid support zone near the $15 mark. Furthermore, the price action indicates a bearish engulfing candlestick in the daily chart.
Moreover, the volume is rising phenomenally in the daily chart compared to the last few days.
The FLOW Token price trades at $16.66, decreasing 3.62% in market capitalization over the past 24 hours. Furthermore, the intraday trading volume has increased by 57% in the past day, indicating a boom in the number of sellers.
FLOW Token In The 4-Hour Chart
FLOW token price action indicates a sudden fallout with a boom in trading volume in the 4-hour chart. The price breaks below the crucial support zone near the $15 mark. Thus, a retest can be seen shortly.
As per pivot points analysis, the resistance levels for the token after the $15.75 mark reside at the $17 mark. However, if the price takes a bearish reversal, sellers may find opposition at $13 or $11.
The coin price falls below all the crucial EMAs in the daily chart. As a result, the EMAs may soon generate the death cross. Thus, increasing the underlying bearishness.
As the slope falls towards the oversold territory, the RSI indicator predicts a phenomenal rise in the underlying bearishness.
The ADX indicator shows a rising trend, which means there is a lot of bearish potential in underlying momentum.
Signal lines and MACD are lower below the neutral area on the daily chart. As a result, the token price is showing slight bearish momentum.
Conclusion – FLOW Coin’s upcoming trend is highly bearish from a technical standpoint. The technical indicators and the price action coupled with the increased trading volume projects a boom in selling pressure.
Support – $13 or $11
Resistance – $15.75 and $17