Is the Market Turning Bearish?

The Flare crypto failed to sustain on the higher levels and continued the losing streak on the 3rd day. The crypto started the week with a negative development and closed in red on Monday and Tuesday. The bears are still dominating on the third day and a red candlestick is being observed by Today’s afternoon session. 

At the time of writing, the FLR crypto was at $0.027 with a swift intraday loss of 0.8%. It has a market capitalization of $910.2 Million and ranks 68th among all cryptos. The volume to market cap ratio is 3.01% signifying low volatility. 

Moreover, the crypto performed well in the last week after a breakout above the $0.025 level and managed to gain nearly 30% by the end of the week. However, the buyers could not hold more at the upper levels and the price came down with any attempt to hold higher. 

Flare Trend Analysis

Moreover, the crypto has performed well in the last couple of weeks except for the current week. The long term view is on the bullish side as the crypto has registered a positive growth of over 140% in the past three months. 

The FLR crypto is registering a negative growth this week. However, the short term outlook still lies on the bullish side above the important key EMAs of 20, 50 and 200-Day exponential moving average.

The long term as well as short term outlook is bullish which might attract more buying volume at the lower levels. The Flare crypto hovers above the key EMAs which may act as a dynamic support and halt the decline. 

The technical indicators suggest a bullish outlook in the short term as well as long term. The MACD line has made a bullish crossover of the signal line and diverging suggesting a positive outlook. 

At the time of writing, the RSI was at 63.02 points, and the 14-Day SMA line was at 62.67. Both the RSI and 14-Day SMA line are hovering above the median line indicating a positive trend prevailing in the short-term trend.

Flare Price Prediction for February 2024

The positive view of analysts predicts an upside potential of over 20.92% by February end, which could take the Flare price above the $0.033 mark. On the other hand, the bearish view of analysts predicts that the price could drop near $0.024 level.

Flare Price Prediction for 2024

The price prediction for 2024 shows that the Flare may advance to a high of $0.0522 by the end of 2024. The less optimistic analysts estimate a price target of $0.040 by the end of the year.

Flare Price Prediction for 2025

As per the most positive view of our analysts, the price may hit the $0.0711 mark, suggesting an upside potential of 152.37% by 2025. The pessimistic view is that the price could reach $0.052 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. 

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.