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FLOWUSDT

High volume of transactionsFLOW has continued its downtrend to the $0.65 range over the past few weeks, and a strong positive reaction has been generated in this area by re-hitting the midline of the descending channel. Due to the lack of price history in the current ranges, we can only use the Fibonacci tool to determine the resistance support levels. Therefore, the first resistance range in case of more support for this currency can be in the area of 0.94 to 1 dollar. Because this range overlaps with the ceiling of the descending channel, it is a suitable place for supply and demand. If the market conditions remain favorable, the price can take a period below this range resistance. The closest support to the current price is in the $0.70 range, where we can expect a positive reaction. Another point is that a high volume of transactions is recorded at the bottom of the price, which is a good sign of buying this currency. Therefore, if the price returns to the previous bottom range, i.e., the $0.65 range, we can consider a high probability of forming the double bottom pattern.
by MonoCoinSignal
10
FLOW may be gearing up for massive rallyCrypto markets continue to stew in the wake of the FTX fallout, and the prevalent "risk off" investor sentiment as the FED continues to wage war against record high inflation. The crypto market in 2022 has felt very much alike to that of 2018--which for those of you that weren't around, it was just a giant suckfest everyday. Coins that had promising futures and strong narratives were down 70% and felt like a bargain. Weeks later those would go down another 40%. You can tell yourself you're gonna "Buy it 'till it acts right" but one day you just get tired of waking up to your shit down 35% for the 12th time. This was also when I created my profile image. I was still trading in GDAX at the time. While I was never bearish, I did feel utterly defeated every single day for an entire year. I left the picture as a reminder of that year, to help keep my exposure in check when trading and take profits when possible. Anyways, getting back to today's markets. When everything keeps bouncing lower off a downward trendline, it seems like a coin toss (no pun intended) as to whether any of these dead cat bounces are worth riding as we look to establish long term price support. I've seen promising weekly MACD bullish crosses get obliterated, on both USD and BTC pairs. So I tend to avoid trading based off those in this kind of market. RSI for me has been a better way to trade but the key is to find a coin with a decent amount of price history, volume, and narrative. There's two types of bullish RSI trades I like. One is having cash on the sideline for when BTC just nukes and prints a -25% candle. Alts will be down 40-50% and you can scrape the bottom. These daily candles almost always close down somewhere in the -16 to -24%, so you can make a good bit of money in a day off someone else's liquidations. The other kind is based off historical RSI reversal levels as seen in the FLOW chart attached. Down almost 91% YTD, and around 32% in the last few weeks. The daily RSI is around 15, which historically has led to rallies over 50% in the days following. What's impressive, and a bit unnerving, is that this has occurred 100% of the time this happens. There's not a single instance where RSI hits 15-16 and doesn't rally. And all the rallies I highlighted were just measured up to the first correction. Many of these rallies off this low point continued much higher, I just wanted to point out the safest exit was still a pretty nice move. The daily bollinger bands leave the door open to around .96-$1.00. I'm not saying it's a slam dunk or a no-brainer, but you've at least got some rationale behind the trade setup. Either way please remember this is not financial advice or recommendations, I just thought it was interesting and wanted to share. Be safe out there and keep your heads on straight.
KRAKEN:FLOWUSD
by JNor
1
Buyers' attention!During the last week, FLOW has registered a complete range trend near the support area of ​​$1. The price of this currency in the daily and 4-hour time frame is in a descending angle pattern, which, if Bitcoin remains on its support limits, the possibility of its price growth and return to higher resistance levels is provided. It should be noted that the trading volume of this currency is close to the lowest historical level, and due to the divergence of the volume, the possibility of price growth is very high. Only buyers' attention to this currency can increase the volume of transactions. In many time frames, the price trend of this currency is still downward. But in the time frame of 15 minutes, the trend is upward; the price can grow up to the range of $1.15. If this resistance is broken, the higher targets we can consider for this currency will be in the range of 1.24 - 1.40 dollars.
by MonoCoinSignal
4
Formation of a new price floor!During the last weeks, FLOW took a strong downward trend, which has caused the formation of a new price floor in this currency. The lowest recorded price is within the specified support range, showing a price of $1.072. This range is very close to $1, and the reason for the positive price reaction and reversal is also buyers' willingness in this range. Another point is that the extension of the downward trend line, which was considered on the chart in the past, is exactly in this support range. This means that the previous upward move with a pullback to this area can again be signs of a trend change in the 4-hour time frame. The support range of $1-1.072 is still the most valid and the last support identified on the chart, and there is a possibility of positive reactions and the formation of a range trend on this level for the coming weeks. The closest resistance to the current price is in the range of $1.33-$1.40, and hitting this resistance could bring a negative reaction. The RSI indicator also shows a positive divergence, and if Bitcoin does not fall further, the probability of maintaining this support range is high.
by MonoCoinSignal
2
FLOW - The price is above support.After a rapid rise, we see a pullback to the lower boundary of the range. The price is kept in flat above the support from where the previous movement was resumed. In case of successful resumption of buying, the price is expected to rise. If you liked the idea, please like it. That's the best "Thank you!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and make yourself and your loved ones happy.
by Artem_Dishel
4