Flow

Million

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Flow price currently trades at $0.496 with a gain of 2.06% during the intraday session.</a> </li> 
 <li> <span>2</span> <a>FLOW price breaks the major support level of $0.50.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of Flow has dropped to -24.20%.</a> </li> 
</ul> 
<p>Flow price has been in a strong downtrend since it faced rejection near the major psychological level of $0.80. The cryptocurrency price consolidated between the range of $0.545 and $0.565.&nbsp;</p> 
<p>On 15 August 2023, the FLOW price finally gained bearish momentum to break and close below the support and major psychological level of $0.50. The last two candles have been strong bearish candles.&nbsp;</p> 
<p>However, the current candle is bullish and is rising toward the $0.50 level. The candle might retest the $0.50 level and continue falling downwards.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/MAwSuk-zNYbZuq7-qnSsHsLTODKzqWJ68dAtMCXtHDcOkTtBMZD_PEsJCh3Up0TQHMfODneEBgR1DED-N7wZ3JCML0PkCeroEYnjdtyGT7IJpY3DLj9yOO-bptCCFVEtHXw7dCC1MX4WzyF5T2LnTw" alt="Flow Price Prediction: Active Addresses Declines More Than 60%"> 
  <figcaption class="wp-element-caption">
    Source: FLOW/USDT By <a href="https://www.tradingview.com/x/XRbx8rGH/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>Flow price recovered nearly 80% from the all-time low of $0.408 which was hit at the beginning of June 2023 as the Securities and Commission Exchange (SEC) labeled Flow as a security with its lawsuit against major cryptocurrency exchanges.&nbsp;</p> 
<p>If the current candle can close above the $0.50 level and the next candle is successful in breaking the high of the last candle, it might rise toward the support-turned-resistance level of $0.545. On the other hand, if the price can break the low of the previous candle, it might drop further toward $0.45.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-network-activity-of-flow-strong"><strong>Network Activity Of Flow&nbsp;</strong></h2> 
<p>The daily active addresses of FLOW have declined sharply since 7th August, falling from 344,770 to the current level of 9,940. Daily active addresses have declined by 60.5% in the last 90 days. The daily transaction surged to 1.49 Million on August 8th.&nbsp;</p> 
<p>Daily transactions have also declined 55.4% in the last 90 days to 364,120. The total value locked (TVL) peaked on 3rd July reaching $5.86 Million. Since then, there has been a strong downfall.&nbsp;</p> 
<p>The TVL has melted 11.9% in the last 90 days reaching $4.6 Million. In the last 3 months, the market capitalization has also dropped by 37.4%, amounting to $505 Million.</p> 
<h3 class="wp-block-heading" id="strong-will-the-flow-price-fall-to-the-0-45-level-strong"><strong>Will the Flow Price Fall to the $0.45 Level?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/h_K5e_2d0mD6hlL2cgz3tF5rL2Vdm9Uo3s9N2kyB3CpD_KD6BinmP_LnujQvgT6CgjIJaPsqe3a0-rvyf49uf2FWd_UTcX6OdIfA8TQKVX5Bd3WiMzThhdG4Zdp5n2YFbaUBksetDZvreIEQghHX1w" alt="Flow Price Prediction: Active Addresses Declines More Than 60%"> 
  <figcaption class="wp-element-caption">
    Source: FLOW/USDT By <a href="https://www.tradingview.com/x/r1ZU20yZ/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/08/03/flow-price-prediction-will-flow-price-escape-the-consolidation/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency price</a> has been trading below all the major exponential moving averages since the end of July 2023, suggesting bearish momentum. 20-day EMA is acting as a resistance for the price.&nbsp;</p> 
<p>Chaikin money flow (CMF) score has been hovering below the 0 mark since mid-July 2023 and currently trades at -0.15 indicating weakness in the market.&nbsp;</p> 
<p>The relative strength index (RSI) has entered into an oversold zone which indicates the possibility of a short-term pullback. For pullback, FLOW price needs to form a support. The long/short ratio is 0.97 with 49.26% longs and 50.74% shorts suggesting a slightly higher pressure from bears in the last 24 hours.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>The market structure and price action of Flow are strongly bearish. Technical parameters indicate that the price is in strong bearish momentum and RSI suggests the possibility of a pullback.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h5> 
<p>Major support: $0.45 and $0.41</p> 
<p>Major resistance: $0.565 and $0.60</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Flow Price Prediction: Active Addresses Declines More Than 60%

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Thecoinrepublic.com

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