- Flare (FLR) price jumped from $0.01296 to $0.01363 with a 4.94 percent daily gain.
- FLR breaks a long-term trendline after facing resistance since 2023.
- RSI at 33.47 near wedge support suggests a possible short-term price reaction.
Flare (FLR) has recorded a 4.94% rise over the past 24 hours, attracting attention as it moves past key resistance zones. The token’s steady price increase and breakout from a long-term downtrend are seen as early signs of renewed market interest.
Flare Price Gains After Breaking Long-Term Downtrend
Flare (FLR) saw a 4.94 percent price rise in the last 24 hours, moving from $0.01296 to $0.01363. This increase comes after a steady upward movement throughout the day. The token had small price fluctuations but maintained momentum, suggesting that buyer interest remained consistent.
A chart shared by Charting Guy shows a long-term downtrend that started in 2023. Multiple red descending lines in the chart marked zones where FLR previously faced resistance. The current breakout above these trendlines shows a change in price structure.
Support was earlier confirmed around the $0.021 level, where price held during past declines. The resistance near $0.033 was broken in a previous rally that pushed the price above $0.09. That move was followed by a retracement, but recent action suggests renewed interest in the token.
Wedge Support and Oversold RSI Add to Technical Focus
A separate chart shared by Cryptoinsightuk shows FLR near a key support level of $0.01224. The price is close to the lower trendline of a descending wedge on a 3-day chart. Wedge patterns often form before a reversal or breakout.
The Relative Strength Index (RSI) on this timeframe is 33.47, placing it near oversold territory. This may suggest that selling pressure is slowing. If this support level holds, some traders expect a move toward the $0.12 level.
Trading volume has stayed steady despite recent declines, which may indicate consistent market attention. Technical traders are watching closely to see whether the wedge structure leads to a breakout or if further downside will follow.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
