FLOW price prediction suggests the upcoming breakout may trigger a massive rally and hit new swing highs. It formed a bullish pattern and rose upward by displaying higher high swings.
Flow crypto price took support near $0.700 and formed a strong base by spending time in consolidation. Luckily, buyers decided to push the price upward which triggered the bullish momentum.
Recently. the Flow coin price attempted to break out of the $1.00 hurdle to bring back the confidence of investors. However, sellers are strong and still trying to defend the boundaries of the supply zone.
The chart structure and price action denote that bulls are more aggressive. So, the probability of the breakout remains high. However, the consolidation may continue for some more time before resuming the upward momentum.
The EMAs in Flow displayed a golden crossover, which clearly shows that the trend is in an upward direction. So, any retracement in price toward the 50-day EMA will have a high probability of showing a bounce.
At the time of writing FLOW/USDT pair is trading at $0.935 with a one-day uptick of 1.63%.
Will FLOW Price Reward Investors in the Short Run?
FLOW price prediction stays bullish for the short run and suggests bulls might continue its dominance. Buyers are trying their best to take control of the $1.00 supply zone to hit new highs. If they succeed, 20% to 30% more upside will open.
The possibility is high that Flow will reward the investors in the short run as well as in the long run. Therefore, it’s better to play bullish bets and stay with the uptrend. The analysis suggests that the Flow coin is in the bulls’ grip and likely to perform well in the coming months.
Flow Crypto Needs Whales Participation; Why?
Flow crypto is forming a bearish hammer candle on the weekly time frame chart. It shows that sellers are not ready to step back and give tough competition to the bulls.
This coin needs the participation of crypto whales and other big-pocket investors to win the battle and display a breakout.
Indicators like MACD and RSI suggest that more consolidation is possible before hitting further highs. Therefore, investors should be patient and wait for confirmation of a breakout to build fresh long.
Conclusion
FLOW price prediction suggests a significant rise may anytime hit the coin in the coming weeks. However, the sellers are not ready to step back so participation of crypto whales is needed to reward investors in the short run.
Technical levels
- Resistance levels: $1.106 and $1.256
- Support levels: $0.800 and $0.698
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
Source: https://www.thecoinrepublic.com/2023/12/29/flow-price-forecast-how-much-it-can-fly-after-the-1-00-breakout/