Based

bullish

Higher

Flare

<p><strong>Flare price (FLR) </strong> capped inside a range-bound territory between $0.01480-$0.01700. This week, the token showed signs of recovery and attempted to surpass the region.</p> 
<p>Rising more than 12% in the last 48 hours with a trading volume surge of over 220%, it is clear that Flare price is likely to break out soon. Additionally, the rising Open Interest (OI) reflected the investors having started making long positions.</p> 
<p>Moreover, on-chain data shows that a breakout might be brewing, as demonstrated by a sudden spike in volatility.</p> 
<h2 class="wp-block-heading" id="h-flare-inched-closer-to-range-top-breakout-imminent"><strong>Flare Inched Closer to Range Top: Breakout Imminent?</strong></h2> 
<p>The Flare token projects a range bound move on the daily chart. Bouncing off from the range low mark of $0.1480, the token reached the barrier of $0.1680 and climbed above the 20 day EMA mark, signifying buyers accumulation.</p> 
<p>According to data from CoinMarketCap, Flare price showed an impressive spike of over 6% in the past 24 hours, trading at $0.01687. Based on the market cap, the token has secured the 83rd position with a market cap of $7961.6 Million.</p> <iframe loading="lazy" title="Santiment Chart: Price (FLR), Volume (FLR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=popcat-sol&amp;pt=POPCAT&amp;df=2024-03-01T18%3A29%3A59.337Z&amp;dt=2024-08-30T18%3A29%3A59.337Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bflare%3BFLR%5D%3B%5B1%3Bvolume_usd%3Bflare%3BFLR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>FLR Price Chart &nbsp; |&nbsp; Source: Santiment</p> 
<p>In a recent post on X by @ZeroHedge, he shared that FLR has made an interesting setup and was poised for a range breakout. He added that close above the neckline would be ideal.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24FLR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLR</a><br><br>Interesting setup I just found with the screener.<br><br>This is trying to breakout of a stage 1 basing on the daily chart. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7e2.png" alt="🟢" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Close above would be ideal <a href="https://t.co/AkhStvBPLG">pic.twitter.com/AkhStvBPLG</a></p>— Wick (@ZeroHedge_) <a href="https://twitter.com/ZeroHedge_/status/1829183995860705308?ref_src=twsrc%5Etfw">August 29, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p><strong>Tweet by @ZeroHedge&nbsp; | &nbsp; Source:X</strong></p> 
<p>The ongoing price action showed a follow on buying action in the last 48 hours. A daily close above the $0.01700 mark confirmed the range breakout and would unlock a next bullish leg toward the $0.0200 mark.</p> 
<p>The RSI line showed a vertical spike and approached the midline zone, noted a positive divergence, representing the bullish stance. Similarly, the Chaikin Money Flow (CMF) index valued at 0.08 reflects the surge in the buying momentum.</p> 
<h2 class="wp-block-heading" id="h-surge-in-on-chain-activity"><strong>Surge in On-Chain Activity</strong></h2> 
<p>This week, Flare total value locked (TVL) saw a massive increase, reflecting the rise in investor confidence. With a sustained growth in the ecosystem, the token is primed for a bullish reversal in the short term.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="242" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1-1024x242.png" alt="" class="wp-image-690085" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1-1024x242.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1-300x71.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1-768x181.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1-1536x363.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1-150x35.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1-696x164.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1-1068x252.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/flare1.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p><a href="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdGPRKQV53l6MICjJH4LvQ6MrG5-yoAKcnOp43UQXE6-lo4LZMRpQRP5ozFTmIO6vKQ9_RIJpi0415YdP2avDsewqw-7_rPP6Ccox8RvzyHzDsQJhDLvAUdrG5qyz6jMZtrN78S3ItIFkbIysbDL2r5ZgI?key=4xispFxsiLd_RVE0edEebw">TVL Data &nbsp; &nbsp; Source: DeFiLlama</a></p> 
<p>The TVL insights and the rising volume data conveyed that FLR holders began to accumulate. Currently, the TVL stands at $15.11 Million, denoted a massive upswing.</p> 
<p>Data from Santiment indicates that the price volatility saw a sudden spike and moved toward the midline region, underlining increased trading activity among investors. Higher the volatility, more the possibility of an upcoming price breakout.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (FLR), Social Volume (FLR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=popcat-sol&amp;pt=POPCAT&amp;df=2024-03-01T18%3A29%3A59.337Z&amp;dt=2024-08-30T18%3A29%3A59.337Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bflare%3BFLR%5D%3B%5B1%3Bsocial_volume_total%3Bflare%3BFLR%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>Social Volume Data &nbsp; |&nbsp; Source: Santiment</p> 
<p>Likewise, the social volume data saw an increase which reflected the rise in the online discussion activity, noted around 3.</p> 
<p>However, the long/short ratio stood at 1.09, which implies that more longs have been added in the market, conveying a bullish view. Similarly, the OI surged over 13.20% to $3.20 Million, reflecting a long buildup activity in the past 24 hours.</p> 
<p>If Flare price level holds above the $0.01630 mark, it may see a steady rise and can trigger a breakout. The resistance points were placed around $0.01700 followed by $0.01820.</p> 
<p>Conversely, if the $0.01580 mark fails to hold, the token may reach the lower level of the range at around $0.01450, followed by $0.01370.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/31/flare-price-eyes-breakout-data-points-to-recovery/">Flare Price Eyes Breakout: Data Points To Recovery</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Flare Price Eyes Breakout: Data Points To Recovery

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