Formation of a new price floor!
During the last weeks, FLOW took a strong downward trend, which has caused the formation of a new price floor in this currency. The lowest recorded price is within the specified support range, showing a price of $1.072. This range is very close to $1, and the reason for the positive price reaction and reversal is also buyers' willingness in this range. Another point is that the extension of the downward trend line, which was considered on the chart in the past, is exactly in this support range.
This means that the previous upward move with a pullback to this area can again be signs of a trend change in the 4-hour time frame. The support range of $1-1.072 is still the most valid and the last support identified on the chart, and there is a possibility of positive reactions and the formation of a range trend on this level for the coming weeks. The closest resistance to the current price is in the range of $1.33-$1.40, and hitting this resistance could bring a negative reaction. The RSI indicator also shows a positive divergence, and if Bitcoin does not fall further, the probability of maintaining this support range is high.
This means that the previous upward move with a pullback to this area can again be signs of a trend change in the 4-hour time frame. The support range of $1-1.072 is still the most valid and the last support identified on the chart, and there is a possibility of positive reactions and the formation of a range trend on this level for the coming weeks. The closest resistance to the current price is in the range of $1.33-$1.40, and hitting this resistance could bring a negative reaction. The RSI indicator also shows a positive divergence, and if Bitcoin does not fall further, the probability of maintaining this support range is high.
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