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FLOW prices show a sharp overnight fall of 11% with increased selling pressure to test the might of the $4.35 support level. Will sellers crackdown to $4? Key technical points:
- FLOW market price decreased 11% in the last 24 hours.
- The MACD indicator fails to give a bullish crossover.
- The 24-hour trading volume of Flow is $16.10 Million, reflecting a fall of 16%.
Past Performance of FLOW
Crushing the idea of bullish reversal to retest the bearish breakout of the symmetrical triangle pattern, FLOW prices reverse suddenly from the $5.15 mark. Failing to sustain above $5, the price action reaches the $4.35 level resulting in a bearish engulfing candlestick and undermining the bullish previous on the day prior. 
Source-Tradingview
FLOW Technical Analysis
FLOW prices find a slightly lower price rejection driving it higher back to the $4.50 psychological mark. However, the increased selling pressure projects a high possibility of a downtrend continuation to the next support level of $4. The falling prices account for deflation of 40% in the last month resulting in the support trendline fallout. However, the prices face an early post-retest reversal due to the overall increase in selling in the crypto market. The MACD and signal lines regain the bearish alignment after avoiding a positive crossover and showcase a flattish downtrend. Moreover, the reprising bearish histograms reflect an underlying increase in selling pressure. The daily RSI slope fails to sustain above the 14-day average score, and the bullish momentum after facing rejection at the halfway mark. Hence, the falling slope may shortly reenter the oversold atmosphere representing a selling spree. In a nutshell, FLOW technical analysis shows a downtrend possibility below the $4.35 mark.
Upcoming Trend
FLOW price faces an uncontrollable selling spree trend in action challenging the solid $4.35 support level, which may shortly succumb under a market-wide bearish attack. Moreover, the overnight increase in trading volume supporting the bearish engulfing candlestick marks the exit of multiple buyers. Hence, the $4.35 breakout will signal a new selling spot with the next target of $4. Support Levels: $4.35 and $4 Resistance Levels: $4.75 and $5.15