At the time of writing, Flow is being traded at $6.73 with a decrease of 1.73% In the last 24 hours. The total volume traded right now is around $208,708,798. The market cap of this coin is around $1,729,724,837 at the time of writing of this article
Technical Analysis – Flow (FLOW):
Starting from the Weekly Time Frame, if the price action of Flow is observed, after every few bearish impulsive, corrections are taking place with almost the same rhythm. The Order Flow is bearish and the structure shift hasn’t been observed yet. Now recently the price has again impulsively pushed down, and after that anticipating a correction.
Moving down to the daily Time frame, the price of Flow has left an Imbalance when it was pushing downside. That inefficiency is not healthy for the market, so it’s very likely that the price of Flow would fill that before pushing down again. Moreover, the momentum now seems to be much weaker than it was first. Moreover, there is an unmitigated order block at $7.21 which can drive the price upwards as well.
Now Jumping down to the 4H time frame, Price was pushing down. It was breaking structure, and along the way, it left some refined imbalance as well. Now we saw a structure shift here today moreover the low was stop hunted as well. So price does seem to show evidence towards the upside. Now we have two scenarios, one for long and one for short. Talking about the first scenario for long, there is an order block at $4.81 which is just a nice spot to buy. It lies within a discount pricing of Flow and moreover as the momentum is weak it’s very probable that the price might bounce from that level. Still, let’s talk about the second scenario which is of doing short.
In case the price of Flow reaches the order block sitting at $6-20, then it’s a good price to short. That zone is a pattern of supply and demand as Drop Base Drop. Moreover, there is an imbalance just below. It so it’s very possible that in case another scenario gets violated this zone then might hold. Now if the short scenario plays out, the target could be the range we had looked for buy and vice versa. If the long scenario plays out, the target would be the sell zone from where we anticipated sales.
