FLARE Challenges $0.021 Amid V-Shaped Recovery, Targets $0.052

The post FLARE Challenges $0.021 Amid V-Shaped Recovery, Targets $0.052 appeared first on Coinpedia Fintech News

FLARE has reached a market price of $0.020 with a market cap exceeding a billion dollars. As the FLR price surpasses the critical psychological barrier, the bull run will likely create a new 50-day high. Let’s look at the FLR price analysis to find the next buying opportunity.

Flare Price Analysis  

In the daily chart, the FLR price action has surpassed the 200-day EMA and is challenging the $0.021 resistance level. The annual price action of the FLR token shows a bullish breakout of a long-coming resistance trendline. 

Tradingview

However, the trendline breakout rally took a long detest, resulting in a falling channel pattern. Nevertheless, with the broader market recovery, the FLR price took a massive V-shaped reversal from the $0.011 mark. 

The recovery run surpassed the 50-day 100-day and 200-day EMA. It is now trading at the psychological level of $0.020. This accounts for a massive rally of nearly 70%. Furthermore, the bullish rally also challenged the 38.20% Fibonacci level at $0.021. 

Currently, Flare faces higher price rejection from this resistance level, keeping the bullish growth under check. However, the intraday gain of 2.32% creates a new bullish engulfing candle, aiming to break above the resistance level. 

Technical Indicators:

MACD: Supporting the bullish trend possibility, the MACD and signal line maintain a positive alignment but one of a negative crossover if the consolidation is prolonged. 

EMA: The uptick in the 50-day EMA prepares for a crossover with the 100-day EMA. The bullish crossover will increase the overall sentiment and the chances of a golden crossover. 

Will Flare Price Cross $0.30?

The breakout rally is likely to challenge the 50% Fibonacci level at $0.025. This level has also been known to provide a massive surge in supply, as reflected by the long-awaited candles last week. 

The bullish breakout of the $0.021 will challenge the $0.025. This will be the critical crossroads for the FLR token. The FLR price is likely to surge to $0.052 to create a new 52-week high above $0.056. 

Conversely, a downfall below the 200-day EMA at $0.018 will result in a plunge to $0.01717, or the 23.60% Fibonacci level.

With the increasing bullish momentum, will Flare reach the $0.10 mark in 2024? Find out NOW in Coinpedia’s Flare price prediction, and subscribe to us for the latest crypto updates. 

FAQs What is FLARE’s current price and performance?

FLARE (FLR) is trading at $0.020, up 70% in its recovery rally, with bullish momentum challenging the $0.021 resistance.

What are FLARE’s bullish indicators?

A V-shaped recovery, positive MACD alignment, and potential EMA bullish crossovers signal a continuation of the uptrend.

What are FLARE’s key resistance and support levels?

Resistance lies at $0.021 and $0.025, while support stands at $0.018 and $0.01717 based on Fibonacci retracement levels.