Flow Price Prediction suggests a rise in the long term and seems to be forming a long term base. Flow price drops below the $1.00 and returns back to the lower range of consolidation. It is stuck into the narrow range between $0.800 to $1.200 and likely to break either side soon.
Flow price is trading below the 200 day EMA showcase positional trend is in the downward direction. However, the price is near the demand zone and the probability of more downside is low. The trading volume in the FLOW crypto is in decline phase indicates less number of participants of active lower levels.
Flow price is trading at $0.909 with an intraday rise of 0.55%. The 24 hour volume to market cap ratio is 0.0133. The pair of FLOW/BTC is 0.00003114 with an intraday rise of 1.01%. The chart structure of FLOW with BTC pair is in downtrend and hitting the yearly lows. It shows sellers are more active in BTC pairs as compared to USDT pairs.
At the beginning of March, Flow price dropped below its previous breakout level of $1.200 which hurted the market sentiment. Later, Prices declined by forming lower lows and eroded the gains of past few months.
Flow price formed a strong base near $0.600
Flow price downfall halted near $0.800 and formed a bullish hammer candle. Later, prices tried to recover but sadly it got stuck into the narrow range of consolidation. Flow prices struggle to regain the 50 day EMA which is acting as an immediate hurdle for the bullish traders. However, the prices will gain positive momentum when buyers succeed to break the $1.200 hurdle. Till then prices are expected to consolidate for more time which is interpreted as base creation. The technical analysis suggests, Flow price is near to the demand zone. If the correction continues then the probability of bounce back from support levels remains high.
Will FLOW price reach $2.00
Flow price forming a Doji candle in a weekly time frame shows an equal level of tug of war between buyers and sellers. Till price sustains above $0.800 the long term investors are safe and possibility of rebound is high. If the overall market sentiment remains bullish and Flow price breakout of the 200 day EMA. Then it may reach $2.00 by the end of 2023. The technical indicators like MACD had generated a negative crossover but the curve is reversing sideways indicating consolidation. The RSI at 41 denotes prices is trying to test the neutral territory.
Conclusion
FLOW price prediction favors the bulls and suggests a rise in the long term. Flow price is stuck in a narrow range and showing signs of the base formation. The technical analysis suggests, Till Flow price sustains above $0.800 the probability of bounce back from support remains high.
Technical levels
Resistance levels : $1.200 and $1.446
Support levels : $0.800 and $0.640
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/04/29/flow-price-prediction-will-flow-price-reach-2-00-in-2023-end/