FLOW Diverted By Bearish Current Amid Relative Inactivity – Here’s Why

Following a decline from October 10–October 20, FLOW is currently making a comeback. CoinGecko reports that FLOW is performing well across nearly all time frames shown by its platform, and at the time of writing, the coin was trading at $1.76. Along with this rise in price comes an increase in TVL value. DeFiLlama reports that since yesterday, FLOW’s TVL has increased from $3.97 million to $4.168 million, an increase of about 5%. Market slippage was noted earlier, but the market structure produced by FLOW price changes may prevent a recovery. Related Reading: Shiba Inu Facing Tough Hurdles For Weeks – How Could SHIB Overcome These? Going With The Flow The coin has created a bearish descending triangle and cup pattern as of this writing. Due to the coin’s Stoch RSI readings being in the overbought zone, this is the case. After this metric enters the overbought zone, the market immediately begins to realign and correct itself. The current value of Chaikin’s money flow indicator is -0.06, suggesting that selling pressure is prevalent in the market. There has been a slight pick-up in momentum, as shown by the indicator. This rise may be due to the inclusion of the cup’s rebound mechanism. Chart: TradingView Nonetheless, the RSI indicator, which displays a positive divergence at the time of writing, largely disregards these signs. This could be the moment from which the bulls can recover. Currently, FLOW&#82...