FLOW Price Eyes $2 As Bulls Dominate The Trend

The post FLOW Price Eyes $2 As Bulls Dominate The Trend appeared first on Coinpedia Fintech News

Standing amongst the top performers, this altcoin showcases a quick bullish trend reversal with increased momentum. FLOW price is on a rally as it jumps 80% in the last 30 days, resulting in the $1 breakout. 

With a streak of bullish candles, FLOW ranks #57 in the top 100 coins with a market of $1.95 Billion. Trading at a discount of 97% from its all-time high of $46, the altcoin projecting trend reversal offers a great early entry opportunity for sideline traders. Check out our FLOW price prediction for a long-term analysis.

Recovery Trend Challenges March 2023 Peak 

Launching from a robust ascent along the 200-day Exponential Moving Average (EMA), the price of FLOW is on course for a bullish trajectory, marking a significant leap past the $1 psychological threshold. Additionally, the current recovery is on par to eclipse the high seen in March 2023.

Source- Tradingview

With FLOW’s price breaching the $1 milestone, it heralds a psychological resurgence for the altcoin, enhancing the likelihood of a continued upward movement. Presently, the daily chart reveals a 6.7% increase in price, maintaining its momentum following an 8.05% surge the previous night.

Currently, the FLOW price trades at $1.30, and a 60% surge in trading volume is bolstering the chances of a price jump.

Will The FLOW Price Reach $2?

As the bullish trend gains momentum, breakout chances are increasing significantly. Further, the ongoing bull market, fueled by increased investor optimism, promises a long-term uptrend. 

Currently, the FLOW price projects the $1.30 breakout as a pivotal milestone with a rounding bottom reversal. Further, the Fibonacci levels present the $1.80 and $2 as the next potential targets for the altcoin. Optimistically, a trend continuation can lead to a $2 breakout and eventually cross $5 in 2024. 

Technical Indicators:

RSI Indicator: The daily RSI line shows no divergence from the uptrending FLOW prices and dangles near the overbought boundary at 70%.