- The price of the FLR crypto has witnessed an advance of just 11% in the last 1 year.
- Flare has medium liquidity based on its market cap.
Flare Network, a layer 1 blockchain, prioritizes blockchain interoperability with its State Connector and FTSO protocols. Founded by Hugo Philion, Sean Rowan, and Naïri Usher, it utilizes the Ethereum Virtual Machine for smart contracts. The FLR token incentivizes FTSO and governs, secures, and powers network activities. Songbird serves as a testbed.
Flare has a total value locked worth (TVL) of $9.61M, and the total raised amount by the crypto values is $11.3M. The crypto’s market cap has further witnessed a decline of 6.4% in the last 24 hours.
The value of the traded volume for the crypto has witnessed a decline of 75% over the last 24 hours, resulting in a traded value of $40.56M. This further results in a volume/market cap ratio of 2.83%, and the Flare is the 69th largest cryptocurrency in the global cryptocurrency market.
The current market cap of the Flare token is $1.43B, followed by the fully diluted market cap of the crypto is $3.907B. Also, the current circulating supply of the crypto is 36.796B FLR, and the total supply of the crypto is 100.559B FLR.
The maximum supply of the FLR crypto has not been disclosed, and the market cap dominance of the crypto is 0.06%. Also, the crypto’s volatility is 8.75%, which is relatively high, and its sentiment is bullish.
Flare Crypto Derivatives Analysis
Flare crypto has been witnessing higher long liquidations over the last few weeks, indicating the weakness of buyers. Furthermore, the derivatives traded volume for the crypto has seen a decline of 68% in the previous 24 hours.
Also, in the last 24 hours, the crypto has witnessed higher long liquidations worth $27.7K against the short liquidation of $712.45. The open interest in the crypto has further advanced by 8.85%.
Price Volatility Vs Weighted Sentiment
The price volatility of the crypto has been acting uncertain and has declined over the last few days. Also, the weighted sentiment of the crypto is trading flat and has not witnessed any significant change. It indicates that the Flare crypto community is not promoting any event or significant development activity.
FLR Crypto Technical Analysis
The FLR crypto price consistently advanced by forming a higher high swing pattern on the daily chart. It has recently stopped forming higher highs and is slipping towards the lower levels.
It has formed a lower high swing and a bearish candlestick followed by an evening star, three candlestick pattern. If the price further breaks below the level of $0.2700, it will lead to the break of structure to bearish.
The following behavior of the crypto will confirm a strong downtrend and lead the crypto’s price to lower lows.
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FLR/USD Chart by TradingView
The Flare price is trading above the 20-day and 50-day EMAs, followed by the golden crossover of both the EMAs. The described behavior of the EMAs denotes bullishness in the price of the crypto.
The MACD and the signal line are trading in a bullish cross, and the following metrics have recently crossed above the zero level, indicating an advance in the buyers’ presence.
The RSI is following a bullish cycle, rebounding above the 50 level from the lower levels. It further has broken above the 14-day SMA.
Summary
The price action on the daily chart of the FLR crypto price indicates weakness, while the technical indicators support further surges in the trading price of the crypto.
Thus, if the price of the Flare crypto breaks above the most recent swing high, it might continue to lead to higher levels. Despite this, if the price of the crypto breaks below the change of character level, further lows can be seen in the future.
Technical Levels:
- Support levels: $0.1600 and $0.02800
- Resistance levels: $0.04500 and $0.05600
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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