Flare Price Hypes Post Google Cloud Announcement! What’s Next For FLR Price?

The post Flare Price Hypes Post Google Cloud Announcement! What’s Next For FLR Price? appeared first on Coinpedia Fintech News

The cryptocurrency market witnessed a stable weekend as the top tokens displayed a sideways trend, indicating a cool-off from the price action the industry had recently recorded. On the other hand, mid-cap altcoins have gained significant momentum in recent days, highlighting a switch of interest among investors.

Following the news of Google Cloud possibly joining the Flare network as Validator, the FLR token price experienced a jump of over 30% within the past 24 hours, making it the top gainer of the crypto industry for the past day.

The Flare price constantly traded in a narrow space between $0.01649 and $0.01737 for a brief period, following which the market gained momentum, and the bulls gained enough momentum to break out of the resistance level.

TradingView: FLR/USDT

The FLR coin price jumped over 15% in valuation, after which the price faced restriction before testing its key resistance level of $0.01932. The price then displayed significant price volatility for about a week.

Following this, the price traded in a closed range between $0.01737 and $0.01833 for a period. After multiple attempts, the bulls regained momentum and recorded a jump of over 35% in valuation. The Flare coin price then faced rejection at $0.02346.

Since then, the price has been trading in a consolidated range between $0.02185 and $0.02346 and is currently attempting to break out of the resistance level, of which the outcome is unpredictable. 

Will Flare Token Continue Rising?

The Moving Average Convergence Divergence (MACD) displays a constant rise in the histogram, indicating a massive buying-over-selling pressure in the market. Moreover, the averages sharply rise, highlighting a bullish sentiment in the crypto space.

If the bulls push the price above the resistance level of $0.02346, the FLR price will regain momentum and test its upper resistance level of $0.0250 soon. Further, if the market holds the price at that level, it will rise and prepare to test its resistance level of $0.270 by the coming week.

Conversely, if the bears overpowered the bulls, the Flare price would lose momentum and fall to test its support level of $0.02185. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $0.01932 in the coming time.