Flow Price Analysis: Flow Rising Through an Interesting Channel, Know the Recovery Plan!

• Flow price is inclining through a rising parallel channel over the daily price chart.
• FLOW crypto has recovered above 20 EMA and is preparing for 50, 100 and 200-days Daily Moving Average.
• The pair of FLOW/BTC is at 0.00008353 BTC with an intraday gain of 0.13%.

Flow price is trading upwards with a significant uptrend momentum over the daily price chart. The token at first traded below a negative sloping line and then managed to escape the falling pattern and entered the rising channel. The token must maintain the current uptrend momentum to surge over the daily chart. FLOW investors need to wait until token recovers till a respectable resistance level. Meanwhile, FLOW coin is currently trading in the middle of the upper and lower trendline of the rising parallel channel. Flow bulls must provide the needed uptrend momentum to let the token surge towards the upper trendline. 

Flow price is presently CMP at $1.88 and has lost 0.88% of its market capitalization in the last 24-hour period. Trading volume has decreased slightly by 0.26% in the intraday trading session. This shows that bears are trying to  . Volume to market cap ratio is 0.02188.

Source: FLOW/USD by TradingView

On the daily chart, the price of flow coin is trading inside a rising parallel channel. Flow coin is currently moving upstream towards the trendline, hence FLOW bulls must maintain at the trendline. To prevent the volatility brought on by bears during the intraday trading session, FLOW coin’s volume change, which is now below average, needs to increase. To complete its breakthrough, the flow coin price has to maintain a strong rising momentum.

What do Technical Indicators suggest about FLOW?

Source: FLOW/USD by TradingView

Flow coin price has been trading inside a rising parallel channel over the daily price chart. The token must surge towards the upper trendline to register its breakout from the rising pattern. Technical indicators suggest the downtrend momentum of FLOW coin inside the parallel channel. 

Relative Strength Index showcases the downtrend momentum of FLOW coin. RSI is at 56 and is heading towards neutrality. MACD exhibits the downtrend momentum of FLOW coin. The MACD line is ahead of the signal line and is approaching towards it for a negative crossover. 

Conclusion 

Flow price is trading upwards with a significant uptrend momentum over the daily price chart. The token at first traded below a negative sloping line and then managed to escape the falling pattern and entered the rising channel. The token must maintain the current uptrend momentum to surge over the daily chart. FLOW investors need to wait until token recovers till a respectable resistance level. Meanwhile, FLOW coin is currently trading in the middle of the upper and lower trendline of the rising parallel channel. Technical indicators suggest the downtrend momentum of FLOW coin inside the parallel channel. The MACD line is ahead of the signal line and is approaching towards it for a negative crossover. 

Technical Levels

Support Levels: $1.75 and $1.57

Resistance Levels: $2.00 and $2.15

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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