Our Flow price prediction is on its way to flipping bullish as the price is attempting a breakout. The price has been in a downtrend since hitting the all-time high of $42.4 in April 2021. The ongoing slump in Bitcoin price has further intensified this downtrend. Nevertheless, the Flow crypto price appears to be eying a big move now as the bulls are trying to gain control.
Currently, the FLOW price is breaking out of the downwards trendline after tagging the lows of $2.30 twice. This move suggests that the worst for the native asset of Flow Blockchain might be over. At the time of writing, the FLOW coin is trading at $2.78 and it is still $93.5% below its ATH.
FLOW is the native asset of the Flow blockchain built by Dapper Labs. The parent company Dapper Labs is the same entity which built top NFT projects like Crypto Kitties and NBA Topshot. Nevertheless, the Flow blockchain has yet to gain any traction.
According to FLOW News today, the Zeedz marketplace built on Flow blockchain has already offset 226.38t of CO2 in just 2 weeks since its launch. This makes Flow one of the most environment-friendly blockchains in the world.
FLOW Price Prediction
Technical analysis of FLOW USD price chart suggests that the coin has been in a prolonged bearish accumulation. On Tuesday, however, FLOW price started to show some signs of reversal by attempting a breakout. This breakout could potentially double the price by the end of June.
A Flow price prediction of $6 seems to be reasonable as it also perfectly aligns with 0.618 Fib Level. This Fib retracement level comes into play by connecting April highs of $8.2 to May lows of $2.3. However, this would be only valid if the ongoing breakout gets confirmed and receives some follow-through.
It is also likely that the FLOW price gets rejected from the trendline. Such a rejection, together with a Bitcoin crash might trigger another bearish leg for FLOW.