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Flow (FLOW) Price Prediction: Could FLOW Hit a New High with a 30% Rise Following Meme Kombat Trends?

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After dropping below $0.430 and staying below this level since September 10 and reaching as low as $0.391, the Flow price finally began recovering and rose above the said level on September 16. 

The rally saw the FLOW price hit a high of $0,48 before dropping sharply toward $0.434. What followed was a sideways price action that has seen the altcoin spend several days fluctuating between $0.434 and $0.452, its primary resistance preventing it from going up to $0.5.

At the time of writing, Flow is trading at $0.447, down 0.8% on the day. Flow’s trading activity has increased significantly over the last 24 hours, rising by 108% to $33.9 million, according to data from CoinMarketCap

Flow Increasing trading volume
Source: CoinMarketCap

On the weekly timeframe, Flow remains bearish after dropping 3% over the last seven days. It is also down 17% and 52% in the previous 30 days and six months, respectively. 

Can FLOW Price Break Out of Consolidation to $0.58?

As a result of the sideway’s price action, the altcoin’s 14-day Relative Strength Index (RSI) is flattening out at $49. This suggests that the overhead and the buying pressure are balanced out. 

The Moving Average Convergence Divergence (MACD) indicator reinforced this indecisiveness by the FLOW price as it also appeared to level out near the zero line. This means that market participants have to wait and see the price direction. 

FLOW/USD Daily Chart

FLOW Price Chart - Sept 25
TradingView Chart: FLOW/USD

From a technical standpoint, the $0.434 and $0.45 demand zone doesn’t appear strong enough to decrease another sell-off. If the sellers win the ongoing battle for control, this support level could give in, causing the price to drop below $0.43. If this happens, chances are good that FLOW will see an additional price drop that might take it below $0.42 toward $0.391.

It is worth noting that some crypto analysts believe that this is an excellent opportunity to take a long position. An analysis by Pro Crypto Traders reveals that the current demand level could produce the buying pressure required to push the Flow price out of consolidation and into a sustained recovery. 

The bullish MACD indicator supports this. This trend-following chart oscillating indicator is still positive after sending a call to buy FLOW on September 12 when the MACD line (blue) crossed above the signal line (orange). As long as the MACD continues to move above the signal line, the Layer 1 token will remain bullish on the daily timeframe. 

As such, if FLOW manages to breach the current resistance, it could move up to the one sitting at $0.463, where the 50-day SMA sits. 

Overcoming this level would see the Flow price rise above the $0.5 psychological level and the 100-day SMA at $0.525 to reach the supplier congestion zone around $0.58. This would represent a $0.18% ascent from the current price. 

It is also worth mentioning that September is, historically, the worst month for crypto prices. As this month ends with Q4 2023 only days away, the bullish sentiment may return in days and weeks.

But before this, cheap altcoins offer great investment opportunities with the potential to make great returns once the bull market begins. Presenting such an opportunity is Meme Kombat, a new cryptocurrency in presale with the opportunity to make 100X returns once the funding round is over.

FLOW Alternatives: Meme Kombat Offers Unique Utility

Meme Kombat 1500x500

Meet Meme Kombat, a revolutionary blockchain that seamlessly blends the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.

So, what makes Meme Kombat unique, and why should you keep a keen eye on this presale?

The essence of Meme Kombat lies in its captivating arena, where characters aiming to tap into deeply tribal crypto communities lock horns.

Players can place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.

With a sturdy promise of Season 1 showcasing 11 distinct meme characters, there’s no shortage of action, and Season 2 is already on the horizon for December 2023.

The decentralized nature of the project and the thrill of AI-driven battles ensure that the outcomes are both transparent and unpredictable. Every battle is a new experience, ensuring players stay engaged.

The tokenomics of Meme Kombat is also an appealing factor for potential investors. The Stake-to-Earn $MK token is currently in presale. Priced attractively at $1.667, it gives early adopters a chance to dive into a rewarding ecosystem.

Meme Kombat Tokenomics

With a generous APY of 112%, stakers benefit from passive income and can use their staked tokens to place bets in the arena – this dual functionality – earning while gaming – sets Meme Kombat apart.

The team behind Meme Kombat has already amassed close to $60,000 within just a few days of the presale launch. This very impressive performance has left many analysts believing it might make between 20X-100X returns once it is listed on exchanges.

 Visit Meme Kombat here for more details about the project.

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