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Bulls may take over Flow market
FLOWUSD Price Analysis – 05 December
An increase in the bulls’ pressure can push up the price to the $1.4 resistance level, In case the daily candle close above the mentioned level, the price may increase to the resistance level at $1.5 and $1.8. In case bears increase their momentum, Flow may penetrate the support level of $1.0, then, the support levels of 0.8 and $0.7 may be reached.
FLOW/USD Market
Key levels:
Resistance levels: $1.4, $1.5, $1.8
Support levels: $1.0, $0.8, $0.7
FLOWUSD Long-term trend: Bearish
Flow is bearish in the daily chart. Last week, the Crypto still remains under the control of the bears. The sellers give no chance to the buyers and the price continues to decrease. The former support levels of $1.5, and $1.4 have been broken downside. On November 14, the support level of $1.0 could not hold the price. It declines and tested the support level of $0.8. A strong pin bar was formed and the price pulled back and increase above $1.0 where it is currently consolidating.
It seems that the sellers’ momentum is reducing and the coin is gradually increasing. FLOW is trying to cross over the 9-periods EMA and 21-period EMA upside. An increase in the bulls’ pressure can push up the price to the $1.4 resistance level, In case the daily candle close above the mentioned level, the price may increase to the resistance level at $1.5 and $1.8. In case bears increase their momentum, the price may penetrate the support level of $1.0, then, the support levels of 0.8 and $0.7 may be reached. The relative strength index period 14 is at 44 levels with the signal line pointing up to indicate a buy signal.
FLOWUSD medium-term Trend: Ranging
Flow is on the ranging movement in the 4-hour time frame. On 03 November when the coin tested $2.0 but could not break up the just-mentioned level. The sellers’ momentum increased and the price reduced to the low of $0.8. The buyers pushed it back to test the dynamic resistance level. The price started consolidating around the $1.0 level. At the moment, bulls are dominating the Flow market.
Flow is trading above the 9-periods EMA and 21-periods EMA. The Relative Strength Index period 14 is at 70 levels exhibiting a buy signal. Flow is struggling for buyers while more and more buyers are hunting after IMPT coin every day.
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