Solana

FLEX

Bitcoin ETF

Spot

Observer

<a href="https://crypto.news/price/flex-coin/">FLEX</a> coin has emerged as the top gainer among the top 500 cryptocurrencies. However, key indicators suggest a sell signal.&nbsp; 
FLEX is up by 370% in the past 24 hours and is trading at $2.06 at the time of writing. The rally comes while data shows a $203 million market cap and a daily <a href="https://crypto.news/glossary/volume-in-crypto-trading/">trading volume</a> of $168,000 for the asset. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2023/12/FLEX-FLEX-12.13.50-20-Dec-2023-1024x347.png" alt="FLEX surges 370%, investors at high risk - 22" class="wp-image-14229617">
 <figcaption class="wp-element-caption">
 FLEX price and RSI – Dec. 20 | Source: Santiment
 </figcaption>
</figure> 
This movement could usually suggest the manipulation of an asset’s circulating supply. 
 You might also like: <a href="https://crypto.news/k33-research-spot-bitcoin-etf-approvals-expected-in-january/"> K33 Research: Spot Bitcoin ETF approvals expected in January </a> 
Since dropping from its all-time high of $8.16 on Aug. 10, <a href="https://crypto.news/flex-soars-360-in-24-hours-sell-signal-has-emerged/">FLEX</a> witnessed 19 sudden moves between $0.44 and above $2. 
According to data provided by the market intelligence platform Santiment, FLEX’s Relative Strength Index (RSI) rallied from 31 to 88. This indicator suggests an incoming price dump as the asset sees an abnormal momentum. 
Data from Investors Observer also <a href="https://www.investorsobserver.com/crypto/5190/flex" target="_blank" rel="noopener">gives</a> FLEX a high risk and volatility score. The data provider claims that the token’s price could see big moves with just a “few dollars.” 
According to an announcement by CoinFLEX, the platform ceased all operations on Oct. 31.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Reminder: <a href="https://t.co/PT67JKdOeO" target="_blank">https://t.co/PT67JKdOeO</a> is ceasing operations on Oct 31, 2023. It's vital to withdraw all funds before this date. Need assistance or have questions? Please reach out to support@coinflex.com.— CoinFLEX (@CoinFLEXdotcom) <a href="https://twitter.com/CoinFLEXdotcom/status/1706838617241555311?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">September 27, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
 Read more: <a href="https://crypto.news/kaiko-solana-price-ratio-shows-recovery-from-ftx-collapse/"> Kaiko: Solana price ratio shows recovery from FTX collapse </a>

FLEX surges 370%, investors at high risk

crypto.news

Other articles published on Dec 20, 2023

MEVerse and XPLA forge partnership to herald new era of blockchain gaming

Despite Crypto Ban, China Insists on Enhancing NFTs and DApps

XRP Whale Shifts 22 Mln XRP As Price Flirts Near $0.61 Mark, What’s Next?

EthSign debuts its DocuSign feature on Telegram and Line

Crypto Analyst Bluntz Predicts Over 40% Surge for Chainlink (LINK), Offers Bullish Insights on So...

What is eCash? A Crypto Designed to Be Used as Electronic Cash

Join our free newsletter for daily crypto updates!