FLOW up 12% on Tuesday, hitting 5-day high – Market Updates Bitcoin News
Flow rose for the second session in a row on Tuesday, as the token rose 12% earlier in the day. The rise comes after prices fell to a one-month low over the weekend. Cosmos was also in the green as it also hit a five-day high. Overall, the global crypto market value is up 0.68% at the time of writing.
Flow (FLOW)
Flow (FLOW) was one of the notable movers during Tuesday’s session, as the token rose by as much as 12% today.
On Sunday, FLOW fell to its lowest level in over a month as cryptocurrency markets fell victim to an influx of bearish pressure.
Since then, prices have rebounded, moving away from yesterday’s low of $1.77 and reaching a high of $2.08 earlier in the day.
Today’s rally saw FLOW/USD almost collide with a key resistance point at $2.10, causing some uncertainty in the price action.
Following its earlier peak, FLOW is now trading at $1.94 as earlier bulls moved to liquidate their positions, sending prices lower.
As shown on the chart, this could also be due to the 14-day relative strength index (RSI) hitting a separate resistance point at the 40.00 mark.
Cosmos (ATOM)
Another big draw so far today has been the cosmos (ATOM), which also rose for the second day in a row.
After a low of $10.16 on Tuesday, ATOM/USD rallied to an intraday high of $11.86 earlier today.
Today’s move sees ATOM fall to its lowest point in five days, from when the token traded above $13.00.
Looking at the chart, although the token climbed beyond the key resistance level of $11.50, earlier gains were reduced, as traders moved to lock in profits.
At the time of writing, cosmos is now trading at $11.25, falling below the aforementioned price ceiling.
Should traders look to extend the run of the last two days, the RSI will need to move past an upcoming hurdle that stands at 52.00.
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Will volatility in crypto markets continue through the week? Let us know your thoughts in the comments.
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