What Does FLOW Price Show Over 1-D Chart?

25 jul

The FLOW Chart shows an impressive surge of greater than 300% from October 2023 to mid-March 2024, where it flew from $0.417 to $1.693. Despite the exemplary gains, due to 3 months profit booking, FLOW deterioration took the price back, from where it showed a historical surge on the chart.

Structure-wise, the plunge has formed a wedge, and this week, the price has moved past the upper border. However, the obstacle of dynamic resistance of 50-day EMA looms, which interrupts its further ascent.

Based on possible bullish thrust, the resistance that lies up ahead is $0.820 and $1.00, respectively. On the contrary, if the ascent gets neutralized by bears and shifts beneath the pattern, again, then bullish sentiment might take a halt or lose its significance, as well. Further dominance by bears could even lead to the nearest supports at $0.60 and $0.40.

Indicators, the sentiment is depicted as a mix, as bearish EMA's present alongside Bullish RSI and MACD.