Flow price analysis: Investors are aiming to reach a psychological resistance level of $10

• Flow coin’s investors appear to be aggressive after successfully overcoming the descending wedge pattern, and the coin is favoring the bulls by 8.4%.
• Several days before, the Flow coin price started trading above the 20-day moving average, and now bulls are trying to maintain the coin price above 50-MA. 
• Flow coin price with bitcoin pair remains bullish by 5.3$ at 0.000175 Satoshis.

After a short-selling from an all-time high level, bulls attempted to dominate the Flow coin’s dominance. Bulls found crucial support at $4.5, which is a 52-weeks lower level so far, and started buying the resulting coin Price recovered 71% in just 3-weeks. At the time of writing, the Flow foin favors the bulls by 8.4% at $7.49. Flow coin has immediate support at $4.5 mark and the resistance sits at $10 (physiological round level).

There is no doubt that bulls have been aggressive for more than 3-week and they continue buying the coin. However, the flow coin has gained 104% trading volume over the last trading session and bulls took advantage of the breakout of the descending wedge pattern (white) which was valid for more than 4-months. Recently, coin price jumped above the 20–day moving average and now bulls are retesting 50-MA as a bullish hurdle in the daily price chart;  on the flip side, 100 and 200 MAs are above the current coin’s price. Furthermore, the volume to market capitalization ratio is 0.1524.

Will bulls be able to reach a $10 psychological level?

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Flow coin price With bitcoin pair is trading bullish by 5.34% at 0.000175 Satoshis. However, the pair price has been supporting an upwards trend after rebounding from critical 0.000130 Satoshis support. In terms of daily price chart, the pair price recently retested the 100-MA (yellow) but bears dumped it back. Furthermore, 0.00020 Satoshis will act as a resistance in the short term.

Flow coin price is trading in the green zone of the super trend indicator in the daily chart, where the bulls don’t. Want to lose the buying opportunity. Although the RSI is reflecting higher lows after dipping into the oversold stage, it is now at the 58-mark, attracting the buyers. But average directional index is approaching downwards, shows the weak bullish momentum

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Conclusion

 Buyers are dominating the uptrend and may retest the $10 psychological round level till the late February. If bulls fail to breach the $10 mark then sellers may dump it again.

Resistance level- $10 and $15

Support level- $4.5 and $3

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.