<em><strong>The FLOW price action shows the bearish power cracking the support trendline, and the recent retest brings a selling or profit-booking opportunity. </strong></em>

The FLOW price action shows a bearish breakout of the ascending trendline with a bearish candle of 6.39%. Moreover, the recent retest brings a selling opportunity as the retracement lacks volume support. So, should you consider shorting the recovery rally?
<h3>Key Points:</h3>
<ul>
 	<li>The FLOW prices retest the bearish breakout of the support trendline.</li>
 	<li>The bearish crossover in the MACD indicator.</li>
 	<li>The intraday <a href="https://www.cryptoknowmics.com/news/why-trading-volume-matters-in-crypto-investment/" target="_blank" rel="noopener">trading volume</a> in FLOW is $56.15 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/6/69dw4unu.png" alt="FLOW/USD Price Chart" width="2047" height="1006" />

Source - <a href="https://www.tradingview.com/x/69dw4unu/" target="_blank" rel="nofollow noopener">TradingView</a>
<h2>FLOW Technical Analysis</h2>
The FLOW price displays a long-term bullish trend with the support of an ascending trendline sustaining an uptrend for three months. However, the recent reversal from the 50-day EMA results in a bearish breakout.

On 15th September, the 6.39% bearish candle resulted in the support trendline breakout, ending the long-term uptrend. Currently, the bullish reversal retests the bearish breakout bringing a selling opportunity for sideline traders.

If the selling pressure resurges, the FLOW prices will reach the bottom support level at $1.5, accounting for a 15% decline in market value. Moreover, the prolonged correction with a $1.5 breakout can result in a drop to $1.24.

However, a reversal in market prices sustaining above the trendline will retest the overhead supply zone at the $2.15 mark.
<h2>Technical Indicators</h2>
The RSI slope shows a slight recovery in the nearly oversold zone, avoiding a drop to the oversold boundary at 30%. Moreover, the MACD and signal lines show a bearish crossover starting a bearish trend in histograms. Hence, the technical indicators reflect a solid underlying bullishness. As a result, the FLOW Technical Analysis takes a bearish standpoint and offers a selling or profit booking opportunity as the retest completes.

Resistance Levels - $2 and $2.15

Support Levels - $1.5 and $1.25

FLOW Technical Analysis: Base Breakout Warns 15% Fall In FLOW Prices

The FLOW technical analysis shows the bearish power cracking the support trendline, and the recent retest brings a selling or profit booking opportunity. 

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

FLOW Technical Analysis: Base Breakout Warns 15% Fall In FLOW Prices

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