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Flow: Here’s why short-term traders may not be elated about this price FLOW

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Metaverse-driven blockchain, FLOW is in its elements again. As a matter of course, it’s not taking the crypto market by storm with an unrivaled rally. Nevertheless, the network seems to be focused on providing more options for its users who access its decentralized infrastructure.

In achieving its objective, FLOW added some integrations to its recently launched Decentralized Exchange (DEX), MetaplierFlow. According to reports from Flowverse, the integration birthed a partnership with cross-chain platform, CelerNetwork.

Two steps ahead

The recent partnership is another one driven towards strengthening decentralization on the FLOW ecosystem. Recall that this is not the first go at creating such systems. Earlier, FLOW partnered with a Decentralized Autonomous Organization (DAO) towards a similar mission. 

While there are some disparities, the latest development will mean FLOW users would easily bridge other cryptocurrencies. The assets mentioned include USDC, Wrapped Etheruem [WETH], Ethereum [ETH], and Wrapped Bitcoin [WBTC]. Despite the additions, FLOW seemed unconcerned.

One foot behind

The integrations didn’t result in a positive price movement for FLOW. Per CoinGecko, the coin seemed to prefer “flowing” in the south direction. At the time of this writing, the coin price was exactly $1.90. This value was a 9.5% decrease from the last 24 hours. Interestingly, the cumulative thirty-day change was still positive at a 18.58% gain as of 26 August.

Nonetheless, the one month green take was not enough to deliver a positive sentiment for the coin. FLOW investors may find some positives from these updates. First, the four-hour chart against the USDT showed extremely lower volatility  than it was  between 18 August and 22 August. This sentiment was revealed by the Bollinger Bands (BB).

As for the momentum, the Relative Strength Index (RSI) was neutral but showed gloomy signs at 45.70. While assessing it a step further, the Awesome Oscillator (AO) was indecisive whether it was a bullish edge or a bearish one. Although, it was more a negative sign with the AO value at -0.048. 

Source: TradingView

Delving into the on-chain part, FLOW’s impression may not suit expectations especially for short-term traders. According to Santiment, the integration triggered development activity to a positive trend. But for the whales’ total supply worth $5 million and more, there was almost no change.

Source: Santiment

With FLOW at a 94.9% distance from re-hitting its All-Time High (ATH), investors may want to keep their hopes at a minimum level. However, all might not be lost even as the crypto market has not shown clear signs of exiting the bear state.


Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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