Flare price failed to capitalize on its morning gains and dropped to lower levels in the afternoon. The selling pressure trimmed the morning gains and the crypto fell to resume yesterday’s fall.
Moreover, the crypto started the week with a negative development of nearly 6% yesterday. Also, the bulls failed to reclaim the positive territory today as the bears kept dominating the whole day except for the morning session.
At press time, the FLR crypto was at $0.020 with an Intraday loss of 4.23%. The price currently hovers near the 20-Day EMA and looking for buying volume Inflow near the 20-Day EMA.
Also, Flare has a live market capitalization of $658.7 Million and ranks 85th among all the cryptocurrencies. It had a 24-hour trading volume of 15.47 Million with an intraday gain of 48.5%.
Moreover, the long term outlook is slightly bullish as the crypto repeatedly formed higher lows and higher highs to reclaim upper levels. Also, the price took support from the key EMAs and bounced back to the upper levels suggesting a positive outlook.
Also, the FLR crypto price hovers above the key EMAs of day and 200-Day EMA suggesting a bullish outlook. Currently, the price has retraced the 20-Day EMA and might bounce back to the higher levels.
The rise in the price from CMP may indicate the continuation of the positive trend after a pullback and the bulls may challenge upper levels.
On the flip side, if the sellers tend to lower the price more, it may indicate a short term correction and the crypto price may fall back to the 50-Day and 200-Day Exponential moving averages.
As per the indicator analysis, Flare is exhibiting a correction after a bullish surge. The MACD lines are above the zero line and about to make a bearish crossover, highlighting a loss in momentum.
At the time of writing, RSI was at 53.06 points, and that SMA line was at 58.55. Both the RSI and SMA line hover above the mean line suggesting a positive outlook in the short term.
Flare Price Prediction January 2024
The positive view of analysts is an upside potential of over 17.88%, which could take the Flare crypto price above the $0.024 mark. While the bearish view of analysts hopes the price could drop to the $0.0179 level.
Flare Price Prediction 2024
The price prediction for 2024 shows that Flare crypto may advance to a high of $0.0332 by the end of year 2024. Whereas, the less optimistic analysts estimate a price target of $0.0268 by the end of year 2024.
Flare Price Prediction 2025
As per the most positive view of our analysts, the price may hit the $0.0458 mark, suggesting an upside potential of 125.8%. The most pessimistic view assumes the price could reach $0.0336 by the end of the financial year 2025.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2024/01/23/flare-price-retraces-20-day-ema-a-reversal-or-a-correction/