A Deep Dive into Its Daily Timeframe Technical Analysisn the ever-evolving landscape of cryptocurrencies, Flux, with its recent price activity, has caught our attention. As of the time of this analysis, Flux's market price stands at $0.616, a significant increase of 20% over the past 24 hours.
Technical Indicators Breakdown
Fibonacci Levels: The key Fibonacci retracement levels derived from the recent significant swing high and swing low provide potential support and resistance zones. These levels are currently at $0.47 (0 Fibonacci), $0.678 (0.5 Fibonacci), and $0.885 (1 Fibonacci). As per the Fibonacci retracement principle, these levels often act as potential reversal points. The recent price increase has pushed the price above the 0 Fibonacci level, indicating potential bullishness.
Bollinger Bands: The current price of Flux is above the middle Bollinger band ($0.5) and near the upper Bollinger band ($0.56), indicating an ongoing upward trend. Bollinger Bands can be used to identify potential overbought and oversold levels: as the price approaches the upper band, it could be nearing an overbought situation.
Relative Strength Index (RSI) and Stochastic: The RSI is at 71, hovering in the overbought territory. Additionally, the stochastic is at 62, nearing the overbought level. These readings could be precursors of a potential pullback as buying pressure exhausts.
Volume Oscillator: The volume oscillator is at 60%, suggesting substantial buying activity. This strong buying volume may have contributed to the recent price surge and can potentially sustain the upward momentum.
Moving Average Convergence Divergence (MACD): The MACD is slightly negative (-0.006), indicating a possible bearish sentiment. However, this is contradictory to the recent price action and other indicators, suggesting that traders should proceed with caution.
Market Outlook and Potential Strategy
Given the above indicators, Flux seems to be in an interesting position. The strong buying volume, combined with price levels surpassing key Fibonacci levels and touching the upper Bollinger band, suggests a bullish sentiment in the market. However, the overbought RSI and stochastic readings hint at potential price corrections.
Traders could consider entering long positions on any pullbacks to key support levels, provided these levels hold. Alternatively, if Flux breaks the upper Bollinger band with considerable volume, it could signal a continuation of the uptrend.
For those considering short positions, careful observation is required. The MACD suggests bearishness, but this is contradicted by other indicators and recent price action. A reversal signal or breakdown below key support levels could provide an opportunity for short sellers.
Conclusion
In conclusion, while Flux presents some bullish indications, the potential for a pullback due to overbought conditions should not be ignored. As always, in trading, there are no guarantees. This analysis is intended to provide a guide to what might happen based on historical data, but all trading decisions should be made based on careful consideration of current market conditions and personal risk tolerance.
FLUXUSDT
FLUX/USDT - Flux: BBand_Breakout◳◱ A Bollinger Band breakout has been identified on the NASDAQ:FLUX / CRYPTOCAP:USDT chart. The price has moved outside of the upper Bollinger Band, indicating a potential bullish trend. The next resistance key levels are located at 0.695 | 0.772 | 0.903, and the major support zones can be found at 0.564 | 0.51 | 0.379. Consider buying at the current price zone of 0.716 and targeting higher levels.BBand_Squeeze
◰◲ General info :
▣ Name: Flux
▣ Rank: 169
▣ Exchanges: Binance, Kucoin, Gateio, Mexc, Bittrex
▣ Category/Sector: N/A
▣ Overview: None
◰◲ Technical Metrics :
▣ Mrkt Price: 0.716 ₮
▣ 24HVol: 7,338,396.694 ₮
▣ 24H Chng: -7.134%
▣ 7-Days Chng: 15.70%
▣ 1-Month Chng: 2.31%
▣ 3-Months Chng: 10.40%
◲◰ Pivot Points - Levels :
◥ Resistance: 0.695 | 0.772 | 0.903
◢ Support: 0.564 | 0.51 | 0.379
◱◳ Indicators recommendation :
▣ Oscillators: BUY
▣ Moving Averages: NEUTRAL
◰◲ Technical Indicators Summary : NEUTRAL
◲◰ Sharpe Ratios :
▣ Last 30D: 1.81
▣ Last 90D: 1.17
▣ Last 1-Y: -0.04
▣ Last 3-Y: 1.00
◲◰ Volatility :
▣ Last 30D: 0.74
▣ Last 90D: 1.05
▣ Last 1-Y: 1.19
▣ Last 3-Y: 1.76
◳◰ Market Sentiment Index :
▣ News sentiment score is N/A
▣ Twitter sentiment score is N/A
▣ Reddit sentiment score is 0.33 - Bearish
▣ In-depth FLUXUSDT technical analysis on Tradingview TA page
▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated!
◲ Disclaimer
Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk.
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Flux coin forming bullish Gartley for upto 21.50% moveHi dear friends, hope you are well and welcome to the new trade setup of Flux coin with US Dollar pair.
Previously we caught a nice pump of FLUX as below:
Now on a daily time frame, FLUX has formed a bullish Gartley for another price reversal move.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
✴️ Flux | Potential Correction (Name Your Altcoin #38)Flux is in the middle of a strong bullish wave but at the time we are having some mixed signals.
While we have higher lows we also have lower highs.
The 9-Feb. break below EMA10 was really strong but the overall volume is favoring the bulls...
What to think, what to do?
It is better to focus on what is happening and review the different scenarios rather than to speculate on what will happen.
The action is ongoing here and we don't trade this type of chart, we buy near support/at the bottom and just ride the wave up, no complexities, no stress, no anxiety, just buy and hold.
After EMA300/MA200 were conquered as resistance, these levels are now being tested as support.
This is the range between 0.7236 to 0.7392.
Any trading above these levels and FLUXUSDT can move straight up...
Now, if these levels fail as support we get a correction as shown on the chart below:
The volume is favoring the bulls, so the correction can happen but still end within a higher low.
Namaste.
FLUX CAN GO UPPERHi, dear traders. how are you ? Today we have a viewpoint to BUY/LONG the FLUX symbol.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Flux coin forming bullish Gartley for upto 35.50% pumpHi dear friends, hope you are well and welcome to the new trade setup of Flux coin with Bitcoin pair.
Recently we caught more than 80% pump of FLUX as below:
Now on a 2-hr time frame, FLUX is completing the final leg of a bullish Gartley move for another pump soon.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
FLUX's rally, what's coming next?FLUX was consolidating for a while and then finally pumped up.
It stopped after it moved out of the upper Bollinger band, made 55%, and got rejected back to the support level for consolidation.
There are three support levels on the way down, and the middle Bollinger band is also considered strong support at this point.
There is one resistance for now which I've shown on the chart; watch out for that.
Do you agree with this chart? Let me know if you do, and if not, challenge it.
Thank you for your time; I hope this was helpful.
Flux coin forming bullish a BAT for upto 15.50% pumpHi dear friends, hope you are well and welcome to the new trade setup of Flux coin with Bitcoin pair.
Previously we caught more nice trade of FLUX as below:
Now on a 4-hr time frame, FLUX is about to complete a bullish BAT move.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Trading opportunity for FLUXUSDTBased on technical factors there is a Long position in :
📊 FLUXUSDT
🔵 Long Now or by analysis
🧯 Stop loss 0.675
🏹 Target 1 0.793
🏹 Target 2 0.910
🏹 Target 3 1.100
💸RISK : 1%
We hope it is profitable for you ❤️
Please support our activity with your likes👍 and comments📝
FLUXUSDT (Local Signal)Hello friends.
Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you!
Everything on the chart.
Entry: market and lower
Target zone: 0.9 - 0.93
Stop: ~0.63 (depending of ur risk). ALWAYS follow ur RM .
Risk/Reward: 1 to 3
risk is justified
Good luck everyone!
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It's not financial advice.
Dont Forget, always make your own research before to trade my ideas!
Open to any questions and suggestions.