FLOW Technical Analysis: Buyers Struggle To Overtake Trend Control

FLOW price chart shows a bullish reversal from the $2 mark struggling to surpass the falling channel pattern as it faces higher price rejection. Key technical points: The FLOW market value increased by 5.79% in the last 24 hours. The bull reversal faces higher price rejection near the resistance trendline. The 24-hour trading volume of Flow is $94.79 Million, indicating a hike of 151%. Past Performance of FLOW The channel pattern that is falling maintains the high bearish pressure on FLOW prices, which has led to an average drop of 70% over the past two months. The downward trend has reached its bottom of $2.35 because of the selling spurt before an upswing as the market recovers. However, the bullish reversal is up 16% over the last four days, allowing it to cross the $2.65 resistance level and challenge the resistance trendline. Source- Tradingview FLOW Technical Analysis The bullish reversal in FLOW price shows an increase in the number of buyers, which is evident in the increasing trading volume. Thus, the likelihood that a trend in the bulls overcoming the resistance level of $3 is increased substantially. However, the higher price rejection raises doubt over the trend sustaining the supply available at the trendline. The Vortex indicator indicates VI lines that are close to delivering the bullish crossover that may soon coincide with the breakout of the resistance zone. A similar situation can be seen on the DMI indicato...