Promising EVM project Flare Network has seen its price pump +15% in a strong push, but can FLR price analysis reveal whether it’s too late to buy Flare? And could this other viral coin be next?
The sudden pump comes as Flare price retains bullish poise in technical structure, with the move bolstered by news that Flare Network’s total-value locked has rocketed back up above $7m to a high-end $7.2m over the past 24-hours.
🚨🚀 Flare Networks $FLR Update: Just 25% away from smashing a New All-Time High! 📈
What’s your Crypto Bull Market Price Prediction For Flare $FLR ? 🤔💭
Comment Below & Follow For More! #Flare #Crypto #ATHIncoming #FlareNetworks pic.twitter.com/wmoPZLo9a0
— Good Morning Crypto (@3TGMCrypto) February 4, 2024
Market sentiment in the crypto community remains positive, with FLR trader’s eyes now shifting to the alluring prospect of re-testing FLR’s previous all-time high in what would represent a relatively modest move from here.
FLR Price Analysis: As Flare Network Price Continues To Push Up Could It Be Too Late to Buy Flare?
As price hammers the upper end of the trading channel, Flare Network is currently trading at a market price of $0.033 (representing a 24-hour change of +4.05%).
This comes following four consecutive days of upside green candle movements on the daily chart, after bullish movement was unlocked following a strong bounce off the 20DMA (now stood at $0.023) on February 2.
With the steadfast support of the 20DMA, a key moving average level which has sustained FLR price action for much of the past two-months, price is now pushing up towards the ATH, in what has become a marked recovery move for the EVM project.
Lower support for FLR is around $0.025 if it faces rejection from the upper trendline, yet there are no clear signs of a slowdown.
Despite a significant bearish divergence on the RSI, which indicates overheating at 83.32, upside movements continue. This suggests the price action might be over-extended.
Contrastingly, the MACD showcases FLR’s strong bullish momentum at 0.000959, implying that rally fatigue hasn’t appeared yet.
The overall FLR price analysis indicates a robust recovery for Flare Network’s price, even as it moves below the previous all-time high.
However, the FLR price seems over-extended, necessitating a local retracement to re-test support, guiding its short-term trajectory.
This leaves FLR price with an upside target at $0.0338 (a meagre +3.25%).
While downside risk could see FLR price tumble back down to $0.025 (a possible -23.63%).
Therefore, FLR price analysis leaves Flare Network with a short-time frame risk: reward ratio of 0.14 – a terrible entry dominated by downside risk on the near term.
But while FLR price analysis offers an unalluring entry, a better opportunity for major upside price appreciation emerges in the Meme Kombat presale.
Meme Kombat Explodes Over $8.1M Raised In Skyrocketing Presale – Don’t Miss Out on FLR Price Analysis Alternative
Meet Meme Kombat, a trailblazing initiative that has seamlessly blended the memetic love of nostalgic gaming, and GambleFi, into a decentralized Web3 platform.
So, what makes Meme Kombat tick, and why should potential investors keep a keen eye on this presale?
The essence of Meme Kombat lies in its captivating arena where characters aiming to tap into deeply tribal crypto communities lock horns.
We did it memers!
The $8 million milestone has been smashed🥊 pic.twitter.com/QZMpfjHSgv
— Meme Kombat (@Meme_Kombat) February 2, 2024
Players have the liberty to place their bets on these animated battles, predicting the outcomes and possibly reaping attractive rewards.
Season 1 of the project promises 11 unique meme characters, ensuring plenty of action. Season 2 is already planned for December 2023. The project’s decentralized nature, along with the excitement of AI-driven battles, guarantees outcomes that are transparent yet unpredictable.
FLR Price Analysis Blues? Meme Kombat Pits Meme Communities in High Octane Staking Battles
The project goes beyond excitement; it’s founded on trust. Meme Kombat’s dedication to transparency shows in their upcoming smart contract security audit.
The findings of this audit will soon be public, a move that many projects shy away from.
The founder and project lead, Matt Whiteman, isn’t an unknown entity in the crypto space.
His role as COO of North Technologies, and two decades in process design add credibility to Meme Kombat. Whiteman’s public profile and the Amsterdam address give extra trust in an era of project anonymity.
Embrace the future of meme-based gaming and betting with Meme Kombat.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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