<strong><em>The long-wick rejection candle encourages a bearish pullback before the FLOW/USDT pair breach the $2.32 mark.</em></strong>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The FLOW prices have appreciated 31% since last week.</li>
 	<li>The 20-and-50-day EMA could soon provide a bullish crossover.</li>
 	<li>The 24-hour trading volume of Flow is $169.4 million, indicating a rise of 81.5%.</li>
</ul>
<h3>Past Performance of FLOW</h3>
Following a drastic fall in April-May, the FLOW/USDT pair showcased a slow yet steady downward approach under the influence of a descending trendline. The multiple retests to this level indicated the sellers were aggressively selling on rallies, which plunged the altcoin to a low of $1.17. However, amid the improving market sentiment, the coin price breached this resistance trendline on July 16th.

<img class="alignnone" src="https://s3.tradingview.com/snapshots/o/oNs3J6PL.png" alt="FLOW/USDT Chart" width="2314" height="1099" />
Source - <a href="https://www.tradingview.com/x/oNs3J6PL/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>FLOW Technical Analysis</h2>
A bullish breakout from the downsloping trendline indicates a shift in market participants' sentiment from selling on rallies to buying on dips. The post-retest rally showcased three consecutive green candles and soared the <a href="https://www.cryptoknowmics.com/news/here-are-the-top-5-altcoins-of-the-week/" target="_blank" rel="noopener">altcoin</a> by 27%. Moreover, this run-up breached an in-between resistance of $1.8, offering a higher footing for buyers to continue this rally.

The FLOW price has pierced the 20-and-50-day SMA slope with the recent price jump, offering early signs of recovery. Furthermore, these lines may flip to a viable support level and bolster the current recovery.

Additionally, the expanding gap between the fast and slow slopes of the MACD indicator accentuates aggressive buying in the market. Moreover, these lines nearing a crossover above the equilibrium provide additional confirmation for buyers.

In short, FLOW technical analysis displays a positive outlook with a pullback opportunity to buy this at a discounted price.
<h2>Upcoming Trend</h2>
Today, the FLOW price is up 2% but shows a long-wick rejection in the daily candle, reflecting the profit booking from the short-term traders. Anyhow, a minor retracement is needed to stabilize the sudden price jump.

The expected pullback could retest the $1.8 before continuing the prevailing recovery. If the coin buyers sustain above the $1.8 resistance, the potential rally should first target $2.32, projecting a 17.35% gain.

Resistance Levels: $3.5 and $4

Support Levels: $1.8 and $1.4

FLOW Technical Analysis: Can Bulls Sustain The Rally Above $2?

According to this technical analysis, the long-wick rejection candle encourages a bearish pullback before the FLOW/USDT pair breach the $2.32 mark.

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: Can Bulls Sustain The Rally Above $2?

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