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Cryptoknowmics 2022-01-29 07:06:20

FLOW Technical Analysis: Bullish Revolt Plan To Escape Falling Channel

The FLOW coin price jumps 25% from a demand-rich area to create a rising three pattern. Will the bullish revolt break the falling channel? The Flow blockchain is a fast and decentralized user-friendly blockchain that was designed to be the basis for a new generation of apps, games, and those digital assets that run these. It’s the only layer-one blockchain that was developed by a group that has consistently provided excellent user-friendly blockchain experiences for consumers: CryptoKitties, Dapper Wallet, NBA Top Shot. Let us move ahead to read about Flow technical analysis. Past Performance of FLOW The FLOW coin price shows a downtrend channel in play that fuels the correction phase in the daily chart. The coin price finds support near the trendline and the horizontal level of $4.6. The coin price jumps more than 25% in the past 72 hours resulting in a rising three method formation. FLOW/USD Daily Chart FLOW Technical Analysis The FLOW coin price approaches the resistance trendline of the falling channel pattern in the price chart with the recent 25% jump. However, despite the bullish price action and pattern formation, it needs to overcome sellers at the resistance trendline to continue the uptrend. The crucial Exponential Moving Averages show a falling trend in the daily chart as the price trades lower than the EMAs. Moreover, the 50-day EMA acts as a dynamic resistance fueling the downtrend. The RSI Indicator shows the sl...

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