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The price of FLOW jumped 35% after a $100 million investment, demonstrating the growing interest and confidence in the cryptocurrency. Staying on top of such developments is essential to staying on top of the latest trends and opportunities.
Flow Blockchain: Empowering Developers and Enabling Digital Assets
A developer-friendly blockchain known for supporting dApps, digital assets, and smart contracts. The multi-node architecture ensures scalability while maintaining decentralization.
Digital assets, especially NFTs, can be created and traded on them, which makes them famous for gaming and digital art. Cadence and its user-friendly environment make it great for developers. In addition to seamless consumer onboarding, Flow uses its native cryptocurrency, FLOW, for payments, incentives, and security.
To make the network more functional, it uses PoS consensus and adds observers, access nodes, and archive nodes. With over 20 million accounts, Flow is already attracting investments and partnerships, launching a stablecoin, and launching a stablecoin this year.
Flow (FLOW) currently trades at $0.6351, with $122 million in volume. Flow’s price surged by 4.82% in the past 24 hours.
Flow Statistics
- Today’s price – $0.6351
- Market cap – $657 Million
- Circulating supply – 1,036,200,000 FLOW
- Total supply – 1,442,567,561 FLOW
- Coinmarketcap ranking – 63
FLOW’s Weekly Chart: Unveiling a Strong Bearish Trend
In the past year, the weekly chart of FLOW has shown a strong bearish trend. Starting at a peak resistance of $3.018, the price has consistently formed lower highs and lower lows since April 2022.
Multiple resistance levels at $2.251 and $1.805 were tested, resulting in subsequent declines. During the bearish trend, $1.104 and $1.401 were price floors. See our guide to the best altcoins to buy now here.
Volume was low overall, with surges in August 2022 and January to February 2023 coinciding with temporary upswings. Even during the short-lived upward movement, the Relative Strength Index (RSI) remained below 50, closer to oversold territory.
Bearish Market Analysis: Resistance Levels and Buying Opportunities
Since January, the market has been firmly in the hands of bears, preventing any substantial bullish momentum. Price consistently formed lower and lower highs, facing significant challenges in breaking through key resistance levels.
It might be worth considering the price range between $0.63 and $0.77 for prospective buyers. Nevertheless, any upward movement will likely be temporary if the price doesn’t break through the resistance levels. Monitor volume, Relative Strength Index (RSI), and Moving Average (MA) indicators closely to identify potential trend reversals.
FLOW Price Projections: Insights for Short and Long Term
In 2021, Flow had a busy year so we can offer short- and long-term insights about FLOW’s price. With a trading volume of $57 million, FLOW has seen a significant surge of nearly 21% over the past 7 days.
According to our analysis, the average FLOW price for September 2023 is projected to be around $1.62. And the highest possible price for September 2023 is $1.74.
The long-term forecast suggests the average price of FLOW could reach $1.88 by January 2024. In January 2024, the highest possible price will be $2.01.
These predictions are based on our analysis and market trends when writing, and actual prices may vary. Before making any investment decisions, doing more research is always a good idea.
Alternative FLOW
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Staying on top of market trends helps traders make better decisions, increase profits, and reduce risk. With YPredict’s AI algorithms, traders can predict prices and invest.
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YPredict: Empowering Traders with AI Insights and Beyond
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Traders and non-traders alike benefit from the platform’s undeniable value. This is a great time to start your journey with YPredict because it has so much potential.
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