Flow Price Analysis: Flow Crypto Soars Over 40%, Has a Bullish Rally Started?

Flow coin saw a bullish breakout after a massive accumulation.
Flow Coin’s market cap is up 43% in the last 24 hours.
Trading volume showed extreme volatility last night as it jumped 1800%.

Over the last 24 hours, Flow Coin has experienced amazing momentum. The quick purchase occurs as Instagram expands its NFT project internationally to more than 100 countries worldwide and adds support for NFTs built on the Flow blockchain, as holding company Meta revealed last night.

The ascending parallel channel from last night was broken by the rapid rise. The short-term resistance zone of $3.0 is about to be further reached by flow currency. Although there was a lot of purchasing activity before the breakthrough, the situation has shifted, and bears are running away from FLOW Crypto.

Buyers are aggressively buying Flow Coin as a result of which the crypto is trading at the $2.6 mark at the time of publication. Later, the $2.5 mark acts well as an immediate support for the bulls. If they manage to manage the $3.0 level, buyers can look for a more upside rally.

Flow Coin’s market cap rose 43% over the past 24 hours to over $2.77 billion. Trading volume showed extreme volatility last night as it jumped 1800%. Furthermore, FlowCrypto belonging to the bitcoin pair is up 41% at 0.0001159 satoshis.

Buyers Aim to Hit Next Resistance Zone

Amidst the sharp rise, Flow Coin jumped above the 20,50 and 100-day moving averages. Now the bulls can see further downside at the 200 DMA.

The RSI indicator has moved into overbought territory on the daily price scale. Similarly, the ADX indicator flow gives a bullish signal for the coin.

Conclusion

Flow coin shows buyer dominance after a sharp breakout. Traditional indicators are also giving bullish signals for the altcoin. But buyers are likely to pull back near the next resistance at $3.0.

Support level- $2.0 and $1.0

Resistance level- $3.0 and $4.5

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.