Bears may continue pushing down the FLOWUSD
FLOWUSD Price Analysis – August 16
Should the bears push down the price, it will be declined towards the support levels at $2.5, $1.8 and $1.2. In case bulls increase their momentum, the FLOWUSD will penetrate the resistance level at $3.1, the resistance levels of $3.4 and $3.6 may be reached.
Resistance levels: $3.1, $3.4, $3.6
Support levels: $2.5, $1.8, $1.2
FLOWUSD Long-term trend: Bearish, Bulls Are Exerting Pressure on Tamadoge Market
Flow is bearish in the daily chart. Last week, the coin was under the control of the buyers. The bullish movement commenced from the support level of $1.25. The former resistance levels such as $1.8 and $2.5 have turned to resistance levels. The price reached the resistance level of $3.1 on 08 august and the price is pulling back at the moment.
There is a decrease in the bulls’ momentum as the FLOW is trading between the 9 periods EMA and 21 periods EMA. Should the bears push down the price, it will be declined towards the support levels at $2.5, $1.8 and $1.2. In case bulls increase their momentum, the price will penetrate the resistance level at $3.1, the resistance levels of $3.4 and $3.6 may be reached. The relative strength index period 14 is at 58 levels with the signal line pointing down to indicate sell signal.
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FLOWUSD medium-term Trend: Bearish
Flow is bearish in the 4-hour time frame. The coin is technically changing to bearish direction when the price reached the high of $3.1 resistance level on 08 August. Price consolidates for few days before sellers gain momentum. It is currently decreasing as more bearish candles are producing which indicate a decrease in the buyers’ pressure. The price is currently moving towards $2.5 level.
Flow is trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Indicator period 14 is at 34 levels exhibiting a sell signal
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