In yesterday’s trading session, Flow price closed the markets down 1.4 percent. This is despite going down by 7 percent during the session and recovering as the session came to an end.
Today, Flow price has mirrored yesterday’s trading session, with early morning hours showing an aggressive bearish move that resulted in prices dropping by 7 percent. However, in the past few hours, the intraday trading has been aggressively bullish, which has seen the prices rise, and at press time, it is only down by a percentage point.
What is Flow Crypto?
Since its launch in 2020, Flow has continued to gain traction among cryptocurrency users. Originally developed for gaming, the platform quickly evolved to become one of the largest and most used cryptocurrencies in the world. Today, it ranks as the 28 largest by market capitalization, which currently stands at $3 billion.
Today, flow is used as an alternative to Ethereum, with most of its users opting for it due to its fast and cheap transactions. The platform, just like Ethereum, has also grown in popularity due to its blockchain allowing for the development of decentralized applications (dApps). It can also process transactions for millions of users, which has made it popular in many gaming platforms.
Flow Price Prediction
Looking at the past trading session, where the Flow price has opened aggressively bearish and then recovered in the late hours, I expect today’s session to be the same. Today, with prices opening aggressively and dropping by 7 percent, and then recovering to the current price of only 1 percent below the opening price, my Flow price prediction expects the prices to resume the bullish trend once the current bear correction ends.
There is a high likelihood that we will see prices rising and trading above the $3.5 price level. For the long-term, there is a high likelihood that we may see prices also trading above $4, and possibly hitting the $4.60 resistance level. However, should the prices trade below this week’s price low of $2.6, then my bullish price analysis will be invalidated. It will also mean a possible bear move.