Flow price prediction: Is it safe to buy this crypto dip?

Flow prices have been in a strong bearish trend over the past few weeks as cryptocurrencies have rebounded. rice field.

Flow continues to grow

Flow is a leading blockchain project aiming to become the premier platform for developers to build quality applications. It is a Proof of Stake (PoS) platform known for its high transaction speed and low cost.

Flow is also known for its high-profile partnerships. For example, blockchain his partners in organizations such as NBA, UFC, NFL, LaLiga, Samsung, Ubisoft. The developer says he has over 8,000 builders in its ecosystem. There are also over 13 million account his wallets and over 2 million transaction wallets.

Flow has seen strong growth over the past few months. In particular, the network has seen strong growth in its NFTs, especially now that Instagram has embraced the network. According to CryptoSlam, his total NFT turnover in its ecosystem has exceeded $15.8 million. This was an improvement from his $11 million over the past two months.

Flow also works well in decentralized finance (DeFi). According to its website, the total value (TVL) locked in its ecosystem is over $3.7 million. This growth was fueled by Increment Finance, a platform that allows people to deposit, earn, borrow and trade digital assets.

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The recent weakness in flows is largely consistent with the performance of digital currencies, where the prices of most coins such as BTC and ETH are on a strong downward trend as the US Dollar Index continues to rise.

Flow price forecast

The 4-hour chart shows that the flow has been in a strong bearish trend for the past few weeks. In the process, the coin fell below the 25- and 50-day moving averages. The Stochastic Oscillator has broken below the oversold level. It has just broken above the critical support level of $1.6731.

Therefore, the coin may continue to fall as sellers target $1.50 as the next significant level to watch. A move above the notable resistance level is $2.20.

Post Flow Price Prediction: Is It Safe To Buy This Crypto Dip? First Appearance On CoinJournal.