📌FLOW/USDT ANALYSIS📊
FLOW/USDT has been in a prolonged downtrend, with the price consistently respecting a descending resistance trendline since March 2024. Currently trading at $0.537, the pair is approaching key resistance near $0.593, where it has previously been rejected multiple times. The failure to break above this level continues to reinforce the bearish sentiment. The market is watching closely for a breakout above this trendline, which could signal a potential shift in momentum toward the upside.
If the price fails to break through resistance and reverses from current levels, a retest of this support zone seems likely. A break below this key support could push the price toward the next critical level at $0.390, where further bearish movement might slow down.
Key Levels:
- Resistance: $0.593
- Support: $0.471-$0.507
Technical Analysis:
The Relative Strength Index (14) and Stochastic %K (14, 3, 3) indicate a neutral signal for short-term trading ⁵.
Market Sentiment:
The market is watching closely for a breakout above this trendline, which could signal a potential shift in momentum toward the upside ². If the price fails to break through resistance and reverses from current levels, a retest of the support zone seems likely ².
Trade Ideas:
Consider a long position with a target of $0.683-$0.711, or a short position with a stop-loss at $0.507 ². Keep in mind that cryptocurrency markets are highly volatile, and thorough research is essential before investing.
