FLR Price Seems to Be Showing Signs of a Potential Reversal

Based on the technical chart, the FLR price has found the bottom and reversal can be expected. Despite the strong bearish trend, the MACD has generated a golden crossover and the histograms have flipped to green.

Technical analysis of FLR price shows that the digital asset has found a bottom and a reversal can be expected. Despite the strong bearish trend, the MACD has generated a golden crossover and the histograms have flipped to green.

Since April, the FLR declined by 70% and has lost a good support level. For the past few months, the price has failed to exceed the 20-day EMA which shows the sellers’ strength.

In April, buyers struggled to defend the 200-day EMA but sellers proved too strong. Below the 200-day EMA heightened selling pressure was noted.

Flare Price Overview

Flare crypto was being traded at $0.0158 at press time with an intraday gain of 1.67%. The market capitalization was $678.27 Million and the 24-hour trading volume was $20.05 Million.

The circulating supply is 42,854,959,669 FLR and the total supply is 100,559,787,198 FLR. The fully diluted market cap was $1.56 Billion at the time of writing.

Would FLR Price Recover Previous Losses or Continue Rising?

Selling pressure has been high over the past few months, FLR dropped below the good support level of $0.0170. The chart shows a bottom formation, buyers may eye for reversal soon.

The bearish trend halted near the $0.0150 hurdle while the trading volume increased by approximately 500%.

Suppose the digital asset price surpasses the crucial level of $0.0170 and sustains, buying momentum can be anticipated. The trading volume has supported this bottom and a bounce back is expected.

Alternatively, the price has failed to overcome the key moving averages which indicates the sellers’ domination. The price below the 20-day EMA is a bearish sign and sellers may dominate further.

Based on the technical indicators, the RSI sharply recovered from the oversold zone and triggered a golden crossover. MACD is also in favor of a bullish forecast. Most of the technical indicators are in favor of bullish forecasts.

Is FLR Price at Discount?

$FLR what a weird volume chart but a discount is a discount. As long as it doesn't rug first? pic.twitter.com/K1RYzAP2If

A source on X claimed that Flare is available at a discount and has the potential to shoot up. After strong selling pressure, the Flare price has dropped to the demand zone and may take a reversal from this zone.

Could Buyer Dominate Sellers?

FLR seems to be showing signs of a potential reversal. The recent surge in trading volume by approximately 500% near the $0.0150 hurdle reflects buying momentum and a bottom formation. The bullish crossovers and recovery in technical indicators such as the RSI and MACD suggest a bullish trend reversal is likely.

However, it’s important to note that FLR struggled to surpass key moving averages and faced resistance at the $0.0170 level. If the price manages to sustain above this level, it could be a signal for stronger buying momentum.

Technical Levels

The bearish trend in Flare crypto could be halted near the $0.0150 and $0.0100 levels. The price is expected to face resistance from the $0.0200 and $0.0260 marks.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading

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