Flow Price Prediction 2021 – Will FLOW Hit $37 Soon?

This FLOW Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our FLOW price analysis and prediction.

Among the cryptocurrencies that are rallying this year, FLOW is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, FLOW has been around since 2019.

Can FLOW reach $37 in 2021? We will find out shortly. But before we proceed to our FLOW analysis, let us first answer the question “What is FLOW?” in this FLOW prediction 2021 article.

What is Flow (FLOW)?

Flow is a decentralized, fast, and developer-friendly blockchain developed as the foundation for a new generation of games, applications, and the digital assets that empower them. Moreover, the Flow is the layer-one blockchain originally developed by a team that has consistently offered great consumer blockchain experiences like CryptoKitties, Dapper Wallet, NBA Top Shot.

The FLOW token is the native crypto token for the Flow network. In addition, the keystone for a new, inclusive, and borderless digital economy. More so, in case Flow is the digital infrastructure, FLOW token is the fuel that enables the network. Even more, the FLOW is the currency needed for the network and all the applications on top of it to perform. Added to this, the FLOW is designed as a payment method as well as a long-term reserve asset for the whole Flow economy.

In addition, the token is utilized by validators, developers, and users to participate in the FLOW network and earn rewards. Moreover, it is also utilized for fees and to participate in future protocol governance.

Even more, the Flow is a blockchain designed from the ground up for mainstream adoption and is the only blockchain technology that develops usability improvements into the protocol layer. Top developers and a few of the world’s largest brands are already developing on Flow, enabling completely new experiences with top-tier content.

Flow has a rich place of top entertainment brands, development studios, and venture-backed startups. Moreover, the Flow ecosystem collaboration include global IP brands like Warner Music, Ubisoft, NBA, and UFC; leading game developers, including Animoca Brands, Sumo Digital and nWay; leaders in crypto, like Circle and Binance; also several noteworthy projects among the next generation of high-growth startups, including Opensea.

Now that we are clear about FLOW do you think FLOW will be beneficial crypto in 2021? Join me and let us see the charts in this FLOW price analysis and FLOW price prediction.

FLOW Current Market Status

As of the time of writing this FLOW price analysis, FLOW trades at $14.99 with a 24-hour trading volume of $606,948,317. The price of FLOW has increased by 13.55% in the last 24 hours.

Furthermore, FLOW has a current circulating supply of 42,429,369.00 FLOW. Currently, the top cryptocurrency exchanges for FLOW are OKEx, Huobi Global, FTX, Upbit, and HitBTC

Now, let’s proceed to the next part of this FLOW technical analysis for 2021.

FLOW Price Analysis

Currently, FLOW holds 90th place on CoinMarketCap. But will the latest upgrades, development, and changes in the FLOW blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this FLOW price prediction article.

In the chart above, which is set in a daily time frame, we can see the Descending Channel Trend pattern. A descending channel is the price action that takes place in a downward direction through a sloping parallel line. More so, the chart shows the Lower Highs and Lower Lows from this price pattern. Moreover, this pattern represents a short-term bearish.

As shown above, at the beginning of this month, FLOW turned from its bull to bear trend. This is the result of the high trade volume that occurs during that time.

The Relative Strength Index (RSI) is above 65, which means that FLOW is in a nearly overbought state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of FLOW

Since the start of 2021, FLOW’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, FLOW has a competitive market this 2021.

FLOW Price Prediction

The chart below shows that FLOW has performed great over the past few days. Moreover, the FLOW price shows a bullish trend. If this trend continues, FLOW might run along with the bulls, overtaking its $37.45 resistance level and move higher.

Conversely, if the investors turn towards the crypto, the bears might take over and push FLOW from its uptrend position. In simpler terms, the price of FLOW might plummet to almost $10.84, a bearish signal.

Meanwhile, our long-term FLOW price prediction for 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.

Conclusion

FLOW has a bright future ahead of it in 2021. With the ongoing developments happening within the FLOW ecosystem, as well as in the overall crypto market, we may see FLOW reach new heights. Bullish FLOW price prediction 2021 is $37. As said above, it may even reach its new ATH if investors have decided that FLOW is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Source: https://coinquora.com/flow-price-prediction/