Token

Flare Token

Flare

Coin

<p>Data-focused Blockchain <strong><a href="https://www.thecoinrepublic.com/price-prediction/flare/">Flare token</a> </strong>(FLR) saw a notable price pullback of over 12% and was attempting a revival from the channel’s low.&nbsp;</p> 
<p>When trading in a falling wedge pattern, the <strong>FLR token</strong> built the anticipation for an upside move with a false breakdown near the $0.015 mark.</p> 
<p>Currently, the token has displayed a bearish dominant price trend. Hence, its value continued to drop from the upper cluster of $0.0500. It experienced a correction of over 65% in the last three months.&nbsp;</p> 
<p>The altcoin failed to hold and break the cluster of $0.0500. It saw a major reversal and continued to form the lower low swings on the chart.</p> 
<p>The overall market saw significant bearish pressure, and the token was traded under the bearish influence. To retain the gains, the FLR token has to retain the 20-day EMA mark to gain momentum ahead.&nbsp;</p> 
<p>At press time, the <strong>Flare </strong>token was trading at $0.0162 with an intraday surge of 12.20%, reflecting buying momentum. Its trading volume rose over 23.20% to $16.52 Million, displaying lower optimism among investors and traders.</p> 
<p>The pair of FLR/BTC was at 0.000000288 BTC, and the market cap was $697.72 Million.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-flare-token-displayed-bearish-moves-what-s-next"><strong>Flare Token Displayed Bearish Moves: What’s Next?</strong></h2> 
<p>The daily chart followed a declining trend, and the token has dragged below all the major EMAs. That led to the token reaching its 552-week low region near $0.0130.</p> 
<p>For the past few weeks, sellers consistently made short positions. It continued to push the <strong>FLR price</strong> from the top, which led bulls to stay on the backfoot.</p> 
<p>@FV tweeted that the FLR price has made a bottom and is ready to accumulate ahead.</p> 
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   <p lang="en" dir="ltr">I feel pretty comfortable saying the bottom is now in for <a href="https://twitter.com/hashtag/Flare?src=hash&amp;ref_src=twsrc%5Etfw">#Flare</a><a href="https://twitter.com/search?q=%24FLR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLR</a> hit my final target of $.0135 with precision <a href="https://t.co/eIjfztojBs">https://t.co/eIjfztojBs</a> <a href="https://t.co/kXEe4OoP56">pic.twitter.com/kXEe4OoP56</a></p>— Flare Vault (@FV887606) <a href="https://twitter.com/FV887606/status/1820648902728863809?ref_src=twsrc%5Etfw">August 6, 2024</a>
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<p>Moreover, the contracting volatility converged as a falling wedge pattern. It directed the underperformance on the chart as it reached the bottleneck section.</p> 
<p>Notably, the six-day selloff streak broke today, and buyers seemed interested in accumulating the token from the lows. However, the trend was still bearish, and a lack of meaningful bounce was still due.</p> <iframe loading="lazy" title="Santiment Chart: Price (FLR), Volume (FLR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=flare&amp;pt=FLR&amp;df=2024-02-06T18%3A29%3A59.030Z&amp;dt=2024-08-06T18%3A29%3A59.030Z&amp;emcg=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The Relative Strength Index (RSI) curve showed an oversold stance, as the reading was noted at 22. This means a bounce is due and can be seen shortly.&nbsp;</p> 
<p>Conversely, the MACD indicator still projected the bearish cues, and no signs of reversal were noted.</p> 
<h2 class="wp-block-heading" id="h-flr-weighted-sentiment-data-noted-an-uptick"><strong>FLR Weighted Sentiment Data Noted an Uptick</strong></h2> 
<p>Following the impressive price surge of over 10% intraday, the weighted sentiment data saw improvement. It noted a bounce of over 5%. Its value reached the positive region and displayed a shift in the market dynamics.</p> <iframe loading="lazy" title="Santiment Chart: Weighted sentiment (Total) (FLR), Social Dominance (FLR)" width="800" height="425" src="https://embed.santiment.net/chart?ps=flare&amp;pt=FLR&amp;df=2024-02-06T18%3A29%3A59.030Z&amp;dt=2024-08-06T18%3A29%3A59.030Z&amp;emcg=1&amp;wm=sentiment_volume_consumed_total%3Bsocial_dominance_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The social dominance data was still declining and continued to drop. It dragged toward the negative region, noted at -0.019%. This displayed no significant chatter and online buzz among the investors on the media platforms.</p> 
<p>Suppose the Flare price continues to drive the bearish rally and fails to retain the 20-day EMA mark, it may stretch the downtrend toward the support zones of $0.01480 and $0.01360.</p> 
<p>Conversely, if it gains momentum and drives a pullback, it may soon retest the cluster of $0.01630, followed by $0.0170. Still, the <strong>FLR token</strong> was capped inside a falling wedge formation.</p> 
<p>If the token does not cross the $0.01750 mark on a closing basis, it may remain in a bearish bias.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/06/flare-drives-bearish-rally-will-flr-see-a-pullback-amid-downturn/">Flare Drives Bearish Rally: Will FLR See A Pullback Amid Downturn</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Flare Drives Bearish Rally: Will FLR See A Pullback Amid Downturn

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