Flare Price Jumps 22%! FLR Token A Potential 2X For This Bull Run?

The post Flare Price Jumps 22%! FLR Token A Potential 2X For This Bull Run? appeared first on Coinpedia Fintech News

The Flare token displays a significant price action in its chart, indicating a rising bullish influence for this altcoin in the market. The FLR price has gained over 14% within the past 24 hours and has collectively added approximately 117% during the past 30 days.

FLR Token On The Verge Of A Major Breakout!

The Flare coin price traded between $0.02232 and $0.02581 for the first two days, following which the market gained momentum, resulting in a price breakout. After trading sideways for a while, the bulls recorded another jump of 27.18%, following which the price traded sideways for a while.

As the market volatility grew, the bulls lost momentum, resulting in it experiencing a price breakdown in the chart. The FLR token then traded sideways for five days. After this, the token traded between $0.03053 and $0.03523 for the next twelve days, indicating a weak price action.

TradingView: FLR/USDT

As the market volatility grew, the bulls recorded a jump of 26.49%, following which the price traded sideways for a while. Recently, the Flare price regained momentum and recorded a jump of approximately 21%. Since then, the price has been trading sideways, indicating a cool-off in the price sentiments.

The Relative Strength Index (RSI) shows a bearish curve above the overbought range, indicating a cool-off in the buying pressure in the crypto market. Further, the averages show flatlines, highlighting an uncertainty in the future price action of the altcoin.

Is Flare A Good Investment?

If the market pushes the token above the resistance level of $0.04715, the FLR coin price will regain momentum and test its resistance level of $0.05250. Maintaining the price at that level will set the stage for the altcoin to attempt to test its upper resistance level of $0.05750 in the upcoming weeks.

Negatively, if the bears overpowered the bulls, the FLR price would lose momentum and fall to test its support level of $0.04119. Moreover, if the bears continue to hold power, the price will further fall and test its lower support level of $0.03523 during the coming month.