Flow (FLOW) had been moving downhill; however, the cryptocurrency has picked up the pace with nearly 100% gains in the past week. At the time of writing, the cryptocurrency stands at a price level of $17.81. The price level of Flow coin has gone up by 50% in the past twenty-four hours while the trading volume has shot up by 250%.

Flow (FLOW) technical analysis

The market sentiment for Flow coin has turned bullish. Out of the total twenty-six technical indicators, fourteen are giving out a signal of buy with seven standing at a neutral position and only three indications at sell. The oscillators are neutral while the moving averages suggest a strong uptrend in the daily timeframe.

Flow coin had been operating in a descending channel formation amidst the bearish trend in the market. As the bulls renewed, the cryptocurrency was able to break out of the channel formation – breaking the strong resistance which lied at the upper boundary of the channel. Flow coin will find other major resistances which may hinder its upward trajectory if the bullish momentum is not strong enough. The immediate resistance that lied at $16.88 had been broken as well and will now be acting as a support level. The price level of $24 followed by $41 are the potential price targets as well as resistance levels for Flow coin.

What is Flow (FLOW)?

The Flow blockchain has been designed to become lead the next generation of blockchains. It is developer-friendly, fast, and completely decentralized. The success of the blockchain can be attributed to the abled team leading it. The development team of Flow has a repute in the crypto space and has delivered various good projects like Crypto Kitties etc. FLOW is the native token of the blockchain and will act as a gateway to the borderless digital economy powered by the blockchain technology.