- Flux makes substantial gains in the last 24 hours as at press time.
- Weekly outlook and on-chain analysis supports continued rally.
As a seasoned analyst with over a decade of experience in the cryptocurrency market, I’ve seen my fair share of bull and bear runs. However, the recent performance of Flux crypto has piqued my interest more than usual. The substantial gains made within the last 24 hours are a testament to the potential this project holds.
Cryptocurrency Flux is gradually becoming more prominent in the financial sectors, thanks to its recent impressive returns, which have proven beneficial for those who invested or traded it prior to this week.
In terms of the 12-hour time span, the combined Flux/USDT pair has burst through a descending triangle formation, then revisited and soared by approximately 18%, according to current updates.
The key buying targets for Flux crypto sits at $0.96, $1.05, $1.20, $1.44, and $1.65 price levels.
At the moment, the support for the price stands at approximately $0.82. It’s anticipated that this level will continue to be maintained until there’s a possibility of reaching a brand new record high within the upcoming months.
Furthermore, on the three-day graph, the FLUX/USDT pair has successfully breached a substantial resistance trendline, indicating it’s primed for a potentially large price increase.
Regarding the recent surge, it seems the projected price point of $3.0397 remains reachable, indicating a possible rise exceeding 354% from our present positions.
The price of FLUX might be in the early stages of a substantial rally, moving toward this target.
Weekly outlook
18% increase for Flux was observed following its rebound from a significant support level on the weekly graph, a level that’s been robust since September 2023.
As a crypto investor, I witnessed the Flux price repeatedly testing a particular support level, four times in total. The final bounce off that support brought about substantial returns for me.
As a researcher, I’ve noticed an intriguing pattern emerging with the Relative Strength Index (RSI) indicator. It seems to have formed a double bottom in the oversold region, indicating it might be preparing for an upward shift. This could potentially signal an impending rally.
Flux is expected to reach its top resistance level by the end of the year or early 2025.
As an analyst, I’ve been examining the current market standing of Flux. At present, it boasts a market capitalization of approximately $194 million and a trading volume of around $82.2 million. In terms of circulation, there are about 351.6 million coins in circulation out of a total supply of 440 million coins.
Furthermore, the fully diluted market value stands at approximately $243.7 million, suggesting a high level of liquidity and active trading for Flux as the volume-to-market cap ratio amounts to 42.05%.
On-chain analysis
In conclusion, analyzing the daily balance of transaction volumes related to profits versus losses on the blockchain, as well as considering the total amount in circulation and the number of owners, indicates a positive trajectory for Flux.
As a crypto investor, I’m seeing a significant increase in attention from both traders and investors regarding Flux. With its current 18% price spike and the positive trend we’re experiencing, it seems highly probable that Flux will keep climbing in the near future.
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2024-08-20 13:11