FLOW is making a return after a dip from October 10 to October 20. According to CoinGecko, FLOW is performing well across almost all periods displayed on its platform, and the currency was trading at £1.52 at the time of writing.
A rise in TVL value accompanies this price increase. According to DefiLlama, FLOW’s TVL has climbed by nearly 5% since yesterday, from £3.42 million to £3.588 million. Market slippage has been observed previously, but the market structure created by FLOW price fluctuations may preclude a rebound.
Nonetheless, the RSI indicator, which shows a bullish divergence at the time of writing, ignores these signals. The bulls may be able to recover at this point. The price support level of £1378.57 is now maintaining FLOW’s uptrend, with the current trading range between £1203.77 and £1533.56. Two bearish patterns are influencing the market movement.
As a result, we believe the FLOW price will fall drastically in the next few days. FLOW, as demonstrated by the market, is on the brink. This belief is supported by technical indicators that imply short- and long-term bearishness. Bulls must defend the £1.20 support level of FLOW’s trading range to survive the upcoming corrective session.
On the other hand, the bulls might exploit the current support around the £1.38 price level to ignite a breakout over the £1.53 resistance zone. However, with the Stoch RSI at its peak, a period of adjustment is unavoidable, reinforcing the resistance level. Investors and traders may begin a short position at the current market price in anticipation of the next corrective phase.