The FLOW price action shows a substantial bullish candle showing a 40% jump as the buying pressure increases. Should you consider buying? Key Technical Points: The FLOW prices jumped by 40% last night, resulting in a huge bullish candle in the daily candle. The bull run exceeds the 100-day SMA and challenges the $2.67 mark. With a market cap of $2.68 billion, the intraday trading volume of FLOW has dropped by 1784% to reach $947 million. Past Performance of FLOW The FLOW price action successfully retests the symmetrical triangle breakout after reversing from the $2.15 mark. However, the post-retest reversal comes with a considerable demand inflow resulting in a 40% price jump overnight. Moreover, the bull run exceeds the 100-day SMA with a boom in intraday trading volume, reflecting an improvement in the underlying sentiments. Source – Tradingview FLOW Technical Analysis The daily candle shows a higher price rejection from the $2.67 level resulting in the wick formation. However, a candle closing above the resistance will further continue the uptrend. The phenomenal rise in the market value breaking above the 100-day SMA influences a bullish turnaround in the 50-day SMA. Hence, if the uptrend continues, a bullish crossover will be inevitable. The RSI slope shows a bullish spike entering the overbought zone reflecting a phenomenal rise in the underlying bullishness. Moreover, the climb in the MACD line keeps its distance from t...
