FLOW Price Analysis: Flow crypto descends as chaos ensues in the market

•FLOW/USD is currently priced at $1.20 and has decreased by 5.15% over the past day

•The trading volumes have increased by 24.18% over the past day

•The technical indicators suggest a hawkish outlook for the near term

Short Term View: Flow crypto price continues its downward trajectory

Source: FLOW/USD by TradingView

The Flow crypto price today is $1.20 USD with a 24-hour trading volume of $32,718,091 USD. Flow crypto is down 5.15% in the last 24 hours. The trading volumes have increased over the past day whereas the Volume to Market Cap Ratio stands at 0.02636 for the altcoin.

The bearish sentiment has seeped deep into Flow crypto as the asset has been spiraling downwards since the turn of this month. The negative sentiment has played a big hand in pulling the Flow Crypto price below the 20,50 SMA on the four hour chart. The bulls will now have a hard time tackling the $1.30 resistance level. On the other hand, the support for the asset is placed at $1.10 and it’s breach could bring about further downside in Flow crypto.

Long Term View for Flow crypto price

Source: FLOW/USD by TradingView

The Flow crypto bulls have been found looking over their shoulders as the asset has plummeted to obscene levels. The red histograms have been an ever present factor on the daily chart, whereas the MACD and signal lines continue to transact deep into the negative territory. On the other hand, the RSI is also in serious danger of entering the oversold territory as it currently stands at 36.31.

Conclusion

Flow crypto has its head turned by the bears as they have laid down their marker in the market. The coming days will provide us with an insight into the future course of the coin as Floow crypto bulls look to minimize their losses.

Support: $1.10-$1

Resistance: $1.30-$1.50

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.

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