Flow Price Analysis: FLOW Coin Displaying A V-shaped Recovery In Technical Chart - Cryptocurrency News - The Market Periodical

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• FLOW coin bears reclaim the 50-day EMA
• The FLOW/BTC traded at 0.0004108 BTC, with a loss of 1.45%
• The FLOW’s 24-hour trading volume is $535.9 million

After making a new ATL of $15 the, FLOW coin price bounced off from this level by creating a morning star candle pattern. The price started rising with significant momentum and now shows a V-shaped recovery in its chart. However, the coin price is currently facing strong resistance from the $21 mark.

The RSI value is 55, indicating a slightly bullish sentiment in FLOW coin price. Moreover, the RSI has shown significant growth in its value, projecting the increasing strength of the market buyers.

The FLOW Coin Chart Shows A Rounding Bottom Pattern

The FLOW coin displayed a rounding bottom pattern in the 4hr time frame chart. The crucial resistance for this pattern was at the $24.5 mark, holding this excellent opportunity for crypto traders. The current price of is FLOW coin is $20.07, with an intraday loss of $1%

The FLOW coin price is trading above the crucial EMA’s 20, 50, 100, and 200, projecting a bullish trend concerning the EMA’s. Moreover, the chart also shows a bullish crossover between 20-200 EMA and 50-100 EMA lines, attracting even more buyers in this coin.

The moving average convergence/divergence indicator(MACD) indicator shows the MACD and signal lines moving above the neutral zone, indicating bullish market momentum. However, these lines at this state can provide a better confirmation by choosing a side with respect to the coin’s price action.

Conclusion: The overall trend for the FLOW coin from a technical perspective is still bearish; however, the coin price action currently indicates a strong bullish outlook; thus, the Crypto traders can grab some quick long opportunities for them. As mentioned above, the price is forming a rounding bottom pattern, and coin investors can add this coin to their watchlist to not miss this opportunity. 

Support – $19

Resistance – $21

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Flow Price Analysis: FLOW Coin Displaying A V-shaped Recovery In Technical Chart - Cryptocurrency News - The Market Periodical
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