Fun

Biggest Movers: FLOW Rebounds Following 7-Day Losing Streak

News Feed - 2022-08-19 12:08:13

Biggest Movers: FLOW Rebounds Following 7-Day Losing Streak


FLOW was trading higher on Thursday, as the token rallied upward following seven straight days of declines. The surge comes despite the global crypto market capitalization trading 1.14% lower as of writing. Shiba inu fell by nearly 10% in today’s session. FLOW


FLOW was one of Thursday’s notable movers, as the token rebounded following seven consecutive days of declines.


The drops in price saw FLOW hit a low of $2.54, which has also acted as a recent support point.


However, like on August 8, which is the last time prices were at this floor, bulls opted to reenter the market, sending FLOW/USD to a peak of $2.80 today. FLOW/USD – Daily Chart


Since colliding with the support point, it appears that FLOW bulls are now setting their sights on a resistance level at $3.00.


However, in order to move closer to this point, the token must first overcome an obstacle in the relative strength index (RSI).


As of writing, the index is at a reading of 60.32, which is marginally below a ceiling of 61.19, which has historically been an area where bears position themselves. Shiba Inu (SHIB)


Whilst FLOW was up by nearly 10%, shiba inu (SHIB) was down by almost the same amount on Thursday.


SHIB/USD slipped to a low of $0.0000147 earlier in today’s session, which comes roughly four days after hitting a high of $0.00001774.


This was the highest point SHIB had climbed to since May 10, however bulls went on to retreat from their positions, sending prices lower. SHIB/USD – Daily Chart


Today’s decline comes as market uncertainty has heightened, which can be seen in the RSI indicator, which is currently trending sideways.


The index appears to be moving horizontally at the 62 level, which had acted as a resistance point in the past, and is now occupying the role of support.


If SHIB is to move back towards this week’s earlier highs, then the RSI will need to move beyond 62, and head closer to the 70 level.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Cryptocurrency, Flow, shib, shiba inu


Could shiba inu rebound as we move closer to the weekend? Let us know your thoughts in the comments. Eliman Dambell


Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Below $1,900 as Ethereum Foundation Comments on Gas Fees MARKET UPDATES | 11 hours ago Biggest Movers: EOS up Nearly 20%, Token Hits 3-Month High MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons, photo_gonzo / Shutterstock.com Previous articleCoinbase Could Be a Material ‘Beneficiary’ of Ethereum’s Merge Transition, JPMorgan Analyst Says Next articleBitcoin’s Mining Difficulty Rises for the Second Time in a Row — It’s Now 0.63% Harder to Find a BTC Block Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method

News Feed

Bitcoin miner OTC balances reach 2-year high — Why it’s a bearish signal
Ciaran Lyons6 hours agoBitcoin miner OTC balances reach 2-year high — Why it’s a bearish signalThe rising amount of Bitcoin OTC desk balances for miners indicates “significant selling activity” among miners.2533
World Gold Council Survey Shows Cryptocurrency Investment the 5th Most Popular in Russia
World Gold Council Survey Shows Cryptocurrency Investment the 5th Most Popular in Russia According to a recent research survey, cryptocurrency investment is a to
Report Shows Crypto Startups Raised $30.3 Billion in H1 2022, Exceeding Total Raised in 2021
Report Shows Crypto Startups Raised $30.3 Billion in H1 2022, Exceeding Total Raised in 2021 While cryptocurrency markets have seen poor performances during the first two quarters
The Best Crypto Debit Card – BlockCard
The Best Crypto Debit Card - BlockCardCrypto debit cards are a great way to get instant purchasing power from your Bitcoin, Bitcoin Cash, or other cryptocurrency. They act as the ef
RNDR pumps 11% after Apple mentions Octane
Ciaran Lyons3 hours agoRNDR pumps 11% after Apple mentions OctaneA brief, three-second mention of Render’s Octane software in an Apple promo video was spotted by traders amid RNDR already witnessing significant price a
Notorious Pink Drainer retires after hitting $85M theft milestone
Josh O"Sullivan13 hours agoNotorious Pink Drainer retires after hitting $85M theft milestonePink Drainer, infamous for aiding in crypto thefts, shut down operations after amassing over $85 million in stolen assets.2355 T
Cointelegraph Innovation Circle8 hours ago11 Bitcoin blockchain metrics TradFi organizations should watchTracking Bitcoin blockchain metrics can provide a window into the overall health of the crypto community.338 Total
Terraform Labs and Do Kwon found liable for fraud in SEC case
Turner Wright4 hours agoTerraform Labs and Do Kwon found liable for fraud in SEC caseJurors took a short time to deliberate on the evidence presented by the U.S. Securities and Exchange Commission and Terraform Labs befo
SEC Takes Action Against Crypto Trading Platform Beaxy and Its Executives
SEC Takes Action Against Crypto Trading Platform Beaxy and Its Executives The U.S. Securities and Exchange Commission (SEC) has filed charges against crypto trading platform Beaxy
Ezra Reguerra10 hours agoBinance wallet spends almost $1M in ETH gas fees in one dayBinance reportedly said it was carrying out a wallet aggregation process to ensure the safety of user funds.2110 Total views9 Total shar
Craig Wright Claims Satoshi Nakamoto ‘Never Used Bitcointalk’ to Communicate
Craig Wright Claims Satoshi Nakamoto "Never Used Bitcointalk" to CommunicateThe mysterious Craig Wright, the man who claims to be Satoshi Nakamoto, was recently ordered to produce 1
Argentina Runs to Stablecoins Amidst Political and Economic Uncertainty
Argentina Runs to Stablecoins Amidst Political and Economic Uncertainty Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertaint