FLOW #FLOW/USDT Analysis
FLOW (FLOW/USDT) is currently trading around the critical level of $0.675, just below the 50% Fibonacci retracement, suggesting a significant point for potential price action. The increasing volume and RSI convergence support a bullish outlook, indicating that the price could aim for the 61.8% Fibonacci level at $0.742 and potentially the 78.6% level at $0.850 if it breaks above the current resistance.
Technical Indicators Overview:
4-Hour Time Frame: The current price of $0.670 is above both the 9-period SMA ($0.596) and the 200-period SMA ($0.596), indicating strong short-term and long-term bullish trends. The VWAP at $0.642 further suggests buying pressure. The RSI at 66.55 indicates moderate buying pressure, with the MACD also showing bullish momentum.
Daily Time Frame: The daily chart presents a mixed picture, with the price below the 9-period and 200-period SMAs at $0.907, suggesting a longer-term bearish trend.
The RSI at 59.32 is neutral, indicating room for movement in either direction, while the MACD shows some bullish crossover signals.
A failure to sustain above the $0.675 level could result in the price pulling back towards $0.650 or lower. Close monitoring of volume and RSI movements is recommended to anticipate potential market shifts.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves substantial risk, and you should only trade with money you can afford to lose.
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