FLOW Technical Analysis: Sellers Drive Back At $4.50

FLOW prices show a sharp overnight fall of 11% with increased selling pressure to test the might of the $4.35 support level. Will sellers crackdown to $4? Key technical points: FLOW market price decreased 11% in the last 24 hours. The MACD indicator fails to give a bullish crossover. The 24-hour trading volume of Flow is $16.10 Million, reflecting a fall of 16%. Past Performance of FLOW Crushing the idea of bullish reversal to retest the bearish breakout of the symmetrical triangle pattern, FLOW prices reverse suddenly from the $5.15 mark. Failing to sustain above $5, the price action reaches the $4.35 level resulting in a bearish engulfing candlestick and undermining the bullish previous on the day prior. Source-Tradingview FLOW Technical Analysis FLOW prices find a slightly lower price rejection driving it higher back to the $4.50 psychological mark. However, the increased selling pressure projects a high possibility of a downtrend continuation to the next support level of $4. The falling prices account for deflation of 40% in the last month resulting in the support trendline fallout. However, the prices face an early post-retest reversal due to the overall increase in selling in the crypto market. The MACD and signal lines regain the bearish alignment after avoiding a positive crossover and showcase a flattish downtrend. Moreover, the reprising bearish histograms reflect an underlying increase in selling pressure. The daily...