Technical Analysis Of Flow (FLOW) Daily Chart!
The FLOW chart has experienced a remarkable surge of over 300% from October 2023 to mid-March 2024, climbing from $0.417 to $1.693. This marked a notable historical surge on the chart.
Despite these significant gains, a three-month period of profit-taking caused the price to decline. In terms of structure, the decline formed a wedge pattern, and the price recently broke above the upper boundary.
However, the 50-day EMA was earlier hindering further upward movement, but recent BTC surge has breached the orange band.
The next resistance levels are at $0.820 and $1.00, contingent on a potential bullish push. If the bears counteract this ascent and the price falls below the pattern, the bullish sentiment could diminish.
Likewise, the continued bearish dominance could drive the price down to the nearest support levels at $0.60 and $0.40.
According to the indicators, the 50-day orange band EMA has been breached, alongside bullish RSI and MACD. Overall, the sentiment has turned bullish.
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