- Flare is up 8%, currently trading around $0.02489.
- FLR’s trading volume has jumped by more than 233%.
As of the 15th of September, the broader crypto market cap is settled at around $4.06 trillion. With the neutral sentiment, the Fear and Greed Index value hovers at 51. Upon turning attention toward the tokens, the majority of the assets are charted in red, losing momentum, including BTC and ETH.
Meanwhile, Flare (FLR) has posted a surge of over 8.73% in the last 24 hours. The asset opened the day trading at the bottom range of $0.02268. As the bullish pressure took control of the FLR market, it tested the key resistance range between $0.02273 and $0.02486, and jumped to a high of $0.02491.
FLR price chart (Source: CMC)
If the uptrend stays, the asset could see additional gains, hitting new highs. As per the CoinMarketCap data, Flare trades at around $0.02489 at the time of writing. Besides, the market cap has reached $1.83 billion, with the daily trading volume of FLR exploding by over 233%, touching the $26.15 million range.
Will the Flare Uptrend Continue?
The price chart of the asset exhibits bullish presence, with the price might move up toward the $0.02495 resistance. An extended upside correction of Flare could trigger the golden cross to unfold, and the bulls will send the price to a high above the $0.02501 mark.
Looking at the downside, assuming the fading event of Flare’s uptrend, the price could fall and test the nearby support at the $0.02483 level. A crucial bearish correction of the asset might initiate the death cross emergence, pushing the price below $0.02477.
Flare reports a positive sentiment with the Moving Average Convergence Divergence (MACD) line crossing above its signal line. This crossover indicates a bullish signal in the technical analysis. If the upward momentum continues to build, the price may rise further.
FLR chart (Source: TradingView)
In addition, the Chaikin Money Flow (CMF) indicator of FLR found at 0.04 is slightly above zero, suggesting a mild buying pressure in the market. As the value is not very strong, the momentum could shift easily, and the money is flowing into the asset.
Moreover, the market sentiment of FLR is in the overbought territory. It signals a strong bullish momentum, with a higher chance of a pullback or consolidation, as the daily Relative Strength Index (RSI) is positioned at 73.57. Flare’s Bull Bear Power (BBP) reading of 0.002312 implies that the bulls are currently dominant, but not aggressive.
