Bears may continue pushing down the price in the Flow market
FLOWUSD Price Analysis – 13 November
Should the bears push down the price, it will be declined to the support level at $1.1, if it breaks the downside, $1.0 and $0.9 may be tested. In case bulls increase their momentum, FLOW may penetrate the resistance level at $1.4, then, the resistance levels of 1.5 and $1.8 may be reached.
Resistance levels: $1.4, $1.5, $1.8
Support levels: $1.1, $1.0, $0.9
FLOWUSD Long-term trend: Bearish
Flow is bearish in the daily chart. The coin has been under the control of the sellers for more than three weeks. The sellers pushed the coin to locate support at $1.4 level on 21 October. The pressure of the bears became weak and the price carried out a retracement to $1.8 resistance level. Sellers opposed the bullish, pullback and exert more pressure, the price descended toward the support level of $1.1 level. At the moment, sellers are trying to break down the just-mentioned level.
There is an increase in the bears’ momentum as the FLOW is trading below the 9-periods EMA and 21-periods EMA. Should the bears push down the price, it will be declined to the support level at $1.1, if it breaks the downside, $1.0 and $0.9 may be tested. In case bulls increase their momentum, the price may penetrate the resistance level at $1.4, then, the resistance levels of 1.5 and $1.8 may be reached. The relative strength index period 14 is at 35 levels with the signal line pointing down to indicate a sell signal.
FLOWUSD medium-term Trend: Bearish
Flow is bearish in the 4-hour time frame. The coin technically pulled back to the resistance level of $2.0 when the price reached the low of $1.4 support level on 21 October. The coin descends from the resistance level $2.0 to the low of $1.1 support level. Price is decreasing with the aim of breaking the support level of $1.1 downside.
Flow is trading below the 9-periods EMA and 21-periods EMA. The Relative Strength Indicator period 14 is at 38 levels exhibiting a sell signal.
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