Bears may continue pushing down the price
FLOWUSD Price Analysis – 27 November
In case the daily candle close below the support level of $1.1, Flow may decline to the support level at $0.8, if it breaks the downside, the $0.7 level may be tested. If bulls increase their momentum, the price may penetrate the resistance level at $1.4, then, the resistance levels of 1.5 and $1.8 may be reached.
Resistance levels: $1.4, $1.5, $1.8
Support levels: $1.1, $0.8, $0.7
FLOWUSD Long-term trend: Bearish
Flow is bearish in the daily chart. The coin remained under the control of the sellers last week. The sellers gained more pressure and the coin is pushed down to the support level of $0.8 on 14 November. The bulls reacted against it immediately and the daily candle ended up in the formation of a long-tailed pin bar. The price returned to trade above the $1.12 level. At the moment, the price is trading within the resistance level of $1.4 and $1.2.
There is a decrease in the bears’ momentum as the FLOW is trading below the 9-periods EMA and 21-periods EMA at close contact. In case the daily candle close below the support level of $1.1, the price may decline to the support level at $0.8, if it breaks the downside, the $0.7 level may be tested. If bulls increase their momentum, the price may penetrate the resistance level at $1.4, then, the resistance levels of 1.5 and $1.8 may be reached. The relative strength index period 14 is at 37 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. The coin tested $2.0 on 03 November 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 is currently ranging between $1.4 and 41.1 levels.
Flow is trading around the 9-periods EMA and 21-periods EMA. The Relative Strength Index period 14 is at 53 levels exhibiting a buy signal. Flow is trending lower while Dash 2 Trade and IMPT are trending higher.
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