FLOW was designed to help the app developers, in providing them a fast and friendly blockchain. FLOW is known for delivering great customer experiences with games like CryptoKitties, Dapper Wallet, and many more. FLOW follows a multi-role architecture, which makes it more scalable. Let us look at the technical analysis for FLOW.
On July 05, 2021, FLOW started trading at $11.06. As of July 11, 2021, the closing price of FLOW was $19.48. Thus, in the past week, the price has surged by roughly 76.01%. In the last 24 hours, FLOW has traded between $17.63 – $20.31.
Day Ahead And Tomorrow
Currently, FLOW is trading at $18.43. The price has slightly decreased from the opening price of $18.90. Thus, it seems that FLOW is making support at the breakout level.
Now, the MACD and signal lines have entered the positive zone, that is, above the zero range. Plus, while forming a bullish crossover by the signal line over the MACD line. Thus, the overall market momentum is bullish, and we can expect a surge in price after some re-test.
The RSI indicator is in the overbought zone, therefore indicating a short pullback on a daily level. The RSI indicator is at 71%. It has rallied from the mark of 60%. Thus, indicating that the buying pressures have increased in the market. While looking at the long-term trend, it is making a bullish divergence.
FLOW Technical Analysis
Currently, the price is trading above the Fibonacci pivot point of $18.09. This level has also acted as a long-term resistance. After creating support at this level, the price can rally and form new highs. Also, as some of the oscillators have shown bullish signals, we can expect the price to increase and test the Fibonacci pivot resistance level of $21.25 soon. If the price breaks this FIB resistance level, it will highlight the next resistance at $23.
If the sellers start dominating the market, we will have to closely watch the level of $17.60 as an immediate support level. If the price breaks this level, it can test the level of $16.60. Thus, traders can take a short position.