Flow (FLOW) has rocked the market with a phenomenal performance in the weekly timeframe. The cryptocurrency has gone up by 72% in the past seven days. Flow crypto had been trending downwards till the end of June; however, the market outlook began showing signs of bullish momentum. The cryptocurrency has been going up ever since although an uptrend has to be yet confirmed but there is hope. At the time of writing, Flow stands at a price level of $18.90. The price has moved up by 3% in the past twenty-four hours while the trading volume has declined by the same proportion.

Flow (FLOW) technical analysis

The market sentiment for Flow coin is bullish. Out of the total twenty-six technical indicators, thirteen are giving out a signal of buy with eight at a neutral position and only three indicators giving out a signal of sell. The oscillators are neutral while the moving averages are strongly bullish.

As the trend has been reversed for Flow coin, an upward trajectory has been identified by a trader’s analysis. Per the analysis, Flow crypto is operating in an ascending channel formation. At the moment, the cryptocurrency is in the lower half of the channel although if the bullish momentum is sustained, Flow can be expected to move upwards – breaking resistance levels. Flow can be seen struggling with a resistance level at the current price. If the resistance level is established as support, the next price target will be activated at $24 followed by $30 and then $44.

What is Flow (FLOW)?

Flow blockchain is a developer friendly blockchain. The blockchain is fully decentralized and lightning fast. It is aimed for the next generation of applications on the blockchain. The team behind the blockchain is credible with a lot of other good projects under their belt. Flow is the native token which powers the Flow blockchain.