FLOW Technical Analysis: Buyers Struggle To Overtake Trend Control 

Key technical points:

Past Performance of FLOW

The channel pattern that is falling maintains the high bearish pressure on FLOW prices, which has led to an average drop of 70% over the past two months. The downward trend has reached its bottom of $2.35 because of the selling spurt before an upswing as the market recovers. However, the bullish reversal is up 16% over the last four days, allowing it to cross the $2.65 resistance level and challenge the resistance trendline.

Source- Tradingview

FLOW Technical Analysis 

The bullish reversal in FLOW price shows an increase in the number of buyers, which is evident in the increasing trading volume. Thus, the likelihood that a trend in the bulls overcoming the resistance level of $3 is increased substantially. However, the higher price rejection raises doubt over the trend sustaining the supply available at the trendline.

The Vortex indicator indicates VI lines that are close to delivering the bullish crossover that may soon coincide with the breakout of the resistance zone. A similar situation can be seen on the DMI indicator, which increases the probability of a bullish rally within the next few hours.

The MACD indicator displays a slowly rising trend of speedy and slow lines, indicating the solid bullishness of the underlying trend.

In short, the FLOW technical analysis projects a potential bull run propelling the FLOW prices over the falling channel pattern.

Upcoming Trend

If the bullish pressure grows, we could soon see an engulfing candlestick that crosses over the resistance trendline of the falling channel and the $3 level. This could lower the FLOW price until the next resistance level of $3.45. Then, if there is a chance scenario of the uptrend reversing, it will reach the $2.35 threshold.

Resistance Levels: $3 and $3.45

Support Levels: $2.35 and $2