FLOW Reclaims Green Turf After 7-Day Losing Streak

Christian Encila

3 years ago

3 mins read

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FLOW relishes its winning streaks as the coin trades at its peak Thursday, and shoots upwards after a 7-day losing streak.

FLOW registers peak levels, shows renewed vigor after a week
Price sets sights on a new key resistance at $3
Token dips by 17.47%, currently trades at $2.28

The uptrend came unexpectedly especially since FLOW’s market cap is trading lower at 1.14%. Other altcoins like SHIB also declined by as much as 10%.

FLOW, One Of The Strongest Movers On Thursday

FLOW was undeniably one of the strongest crypto movers on Thursday as the coin was able to rebound following a slump for seven straight days.

The crypto’s recent price drop reaching $2.54 also positioned itself as a support point. But, similar to what happened on August 8, the bulls decided to crash the party which has propelled FLOW to reach $2.80.

Chart from TradingView.com

Since the coin has bowled over the support point, it appears to be eyeing the $3 resistance level next. But, for FLOW to inch closer to its target zone, the token should be able to surpass the looming obstacle in the RSI.

RSI index reads at 60.32 which is way below the ceiling level of 61.19, which historically is the zone that bears favor.

FLOW Sets Crosshair At $3

Decentralization is now marking its territory in the blockchain space. With that being said, many projects are now strung together to create a game-changing DeFi culture.

The crypto is the newest network to dip into DeFi with its DAO infrastructure spawned as CAST.

CAST is pivotal in attracting more projects into the Flow network. This outcome boosts the opportunity for the coin.

On July 28, the price of the crypto has peaked at $1.78 following a 9.6% uptrend seen overnight. FLOW price increase was also precipitated by the announcement of CAST which may have triggered an optimistic market sentiment.

FLOW total market cap at $2.33 billion on the daily chart | Source: TradingView.com

It’s still undetermined whether the FLOW price can continue to bolster or keep up with the uptrend. Amid the uncertainty of its consistency and performance to maintain its bullish streak, the recovery exhibited by the token in the 50-day moving average speaks volumes of the token’s potential.

This indicates that the crypto is enjoying a strong demand close to that exact indicator. Flow started the week on a bearish movement, prompting the bears to push a little below the RSI level at 50% before the rebound.

As it is, FLOW is currently down by 17.75% or trading at $2.27, according to CoinMarketCap.

Featured image from www.onflow.org, Chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.