FLOW Coin Drops down 8% today – What’s Next?

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According to coinmarketcap, the maximum supply of FLOW is around 1.3B tokens and the circulating supply is around 311.8M tokens. FLOW holds the 46th rank according to market cap and has a market dominance of 0.16%.

At the time of writing, FLOW is being traded at the price of $13.08 with a drop of almost 7.91% in the last 24 hours. It is a really strong token fundamentally. The maximum and minimum today are $14.54 and $12.89 respectively. The daily trading volume has also increased by almost 71.75%. It had created its ATH in July 2021 and reached a price of almost $35.61. During the crash, the price has dropped down to a level of $11.55. The price is still near the bottom and hasn’t done much.

Technical Analysis – Flow (FLOW)

The chart of the price is quite neat at the moment. On the daily time frame, we can see that Flow was continuously facing rejection from the trend line. But recently the price has broken out of the range and has shown a drop in its price.

We have seen the presence of liquidity which can drop the price down to a lower level. After it has happened we can expect the price to show reversal from that point.

Flow (FLOW) - 1D Chart

The target for this movement would be around the 1D order block. The price can move to that level and we can expect a reaction from the price at that point. The price of Flow has already broken out but we can expect a retest which would also serve as a method to grab the liquidity below. Overall the short-term sentiments for the price are quite bullish and we can soon expect higher highs and lows.

Long Term Investment

In the long run, people are quite hopeful about the price. They think that it is going to attract an even more audience that is going to make it even more mainstream.

But according to the wallet investor, in a four-year plan, Flow is supposed to drop down to a price of $1.933 which is quite less than the price that Flow has right now. As opposed to the general mindset of the investors and retailers this is quite an opposite perspective and this calls for Flow to be not a good investment. But people are hopeful that Flow will achieve new heights in the near future.

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