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- FLOW Token price falls as the underlying bearishness gains momentum.
- The sudden rise in the selling pressure drives the price down and proposes a rounding bottom fallout.
- The pair of FLOW/BTC is trading at 0.0002277 BTC with an intraday move of -4.06%
FLOW Token price falls within the rounding bottom pattern as the underlying bearishness increases in the daily chart. The recent formation of the bullish candlesticks drives the price lower, indicating a fallout of the rounding bottom pattern.
Pivot point analysis has shown that the resistance levels of the Token are at $15, following $17. However, if the price drops below $13, sellers could face resistance at $11.5.
FLOW Token trades for $13.75 and has experienced a 5.16% rise in market capitalization within 24 hours. In addition, the intraday trading volume increased by 46% over the last day.
Increasing Selling Pressure Dominates FLOW Token Price.
If the downtrend continues, investors will soon see the price fall below the $11.5 mark. Entry opportunities for traders can be found at the pattern breakout.
The FLOW token price shows a bearish trend, with its price trading below all the crucial EMAs 20, 50, 100, and 200. Furthermore, the price action indicates a rise in the number of sellers driving the price lower.
The RSI indicator predicts a rise of the underlying bearishness FLOW token price as the slope falls in the daily frames.
MACD indicators display the MACD, and signal lines fall lower into the daily chart. The MACD indicator indicates a sell signal.
Conclusion: A FLOW Token Price indicates an increase in the underlying selling power despite the bullish candlesticks in the 4-hour chart. Investors can therefore expect the token price soon to touch $11.5 if there is sustained selling pressure.
Support – $13 or $11.5
Resistance – $15 and $17