FLOW Technical Analysis
FLOW/USDT has been in a prolonged downtrend, with the price consistently respecting a descending resistance trendline since March 2024. Currently trading at $0.537, the pair is approaching key resistance near $0.593, where it has previously been rejected multiple times. The failure to break above this level continues to reinforce the bearish sentiment. The market is watching closely for a breakout above this trendline, which could signal a potential shift in momentum toward the upside.
On the downside, FLOW has found support in the $0.471-$0.507 range naked , highlighted by the yellow zone on the chart. This area has held firm during recent pullbacks, preventing further declines. If the price fails to break through resistance and reverses from current levels, a retest of this support zone seems likely. A break below this key support could push the price toward the next critical level at $0.390, where further bearish movement might slow down.
Despite the ongoing bearish trend, a breakout above $0.593 and the descending channel upper boundary would open the door for a potential rally. The next major resistance levels sit at $0.683 - $0.711, highlighted by the green zone on the chart, offering targets for bulls if the market shifts in direction. Until this breakout happens, the overall trend remains bearish, and traders should approach with caution, particularly around the critical support and resistance zones
On the downside, FLOW has found support in the $0.471-$0.507 range naked , highlighted by the yellow zone on the chart. This area has held firm during recent pullbacks, preventing further declines. If the price fails to break through resistance and reverses from current levels, a retest of this support zone seems likely. A break below this key support could push the price toward the next critical level at $0.390, where further bearish movement might slow down.
Despite the ongoing bearish trend, a breakout above $0.593 and the descending channel upper boundary would open the door for a potential rally. The next major resistance levels sit at $0.683 - $0.711, highlighted by the green zone on the chart, offering targets for bulls if the market shifts in direction. Until this breakout happens, the overall trend remains bearish, and traders should approach with caution, particularly around the critical support and resistance zones
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