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Flare Price Prediction: FLR Soars 33% As Google Cloud Joins Network, But Time Is Running Out to Buy This AI Project That Shows Investors How To Find 2,912% Returns

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Flare Price
Flare Price

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The Flare price is up 33% in the last 24 hours to trade at $0.0222 as of 3:00 a.m. EST time with a 1,215% surge in trading volume.

The remarkable surge in trading volume comes on the back of a Google announcement, indicating a plan for Google Cloud to join the Flare network as a Validator.

Google Cloud To Join Flare As A Validator

Flare, famously known as “the blockchain for data” and leveraging its Oracle system to give developers access to decentralized data, now has Google Cloud as its validator. It comes after technology conglomerate Google’s (GOOGL) cloud division joined the Flare blockchain as an infrastructure provider.

In a statement to a news site, Google Cloud has committed to securing the Flare network in the validator capacity while at the same time contributing to the Flare Time Series Oracle (FTSO).

The integration is a testament to ongoing blockchain adoption among giants in the technology space, with Google now added to the list.

Flare Price Prediction As FLR Confronts The 200-day EMA

After a 33% climb, Flare price faced a rejection from the 200-day Exponential Moving Average (EMA) at $0.0262. This was the aftermath of an overbought asset, with the Relative Strength Index (RSI) reading for FLR being at 81, provoking a correction.

The RSI crossing below the 70 level confirmed Welles Wilder’s interpretation of an overbought asset, with some traders expected to start booking profits. If the bears have their way, the Flare price could descend further, losing the support offered by the 25-day EMA at $0.1798, or lower, and the 50-day EMA at $0.0166.

If these levels fail to hold, the Flare price could extend the fall to the $0.0157 support level, with a breakdown of this buyer congestion level sending FLR price to 100-day EMA at $0.0154. Such a move would constitute a 30% fall below current levels.

Flare Network Price

TradingView: FLR/USDT 1-day chart

Converse Case

On the flip side, judging from the outlook of both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) indicator, the bulls still have a presence in the FLR market. Specifically, the histogram bars of the AO are flashing green in the positive territory while the MACD continues to move above the signal line (orange band) after crossing above it on January 14.

With this, it should not come as a surprise if the Flare price recovers. Increased buying pressure could see the FLR price overcome the resistance due to the 200-day EMA, with the potential to extend higher to the $0.0300 psychological level. In a highly bullish case, the gains could extrapolate to the range high of $0.0328, standing 48% above current levels.

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