FLOW traded higher Thursday after the token gained momentum following seven consecutive days of losses. Even though the global cryptocurrency market capitalization was trading at 1.14% higher as of writing, this surge has occurred. Shiba inu fell by nearly 10% in today’s session.
FLOW
FLOW was one of Thursday’s notable movers, as the token rebounded following seven consecutive days of declines.
FLOW dropped to $2.54 after the drops. This was also an important support level.
A few days ago, prices had been at the floor since August 8. Bulls, however, decided to enter the market again, sending FLOW/USD up to $2.80 today.
FLOW bulls seem to have collided with the support level and are now looking for resistance at $3.00
To get closer, however, the token needs to overcome an obstacle in relative strength index (RSI) before it can move towards this goal.
The index reading at 60.32 is as of this writing. This is slightly below the ceiling of 61.19 which was historically an area in which bears have positioned themselves.
Shiba Inu (SHIB)
Although FLOW rose by more than 10%, the shiba-inu (SHIB), was almost as low on Thursday.
SHIB/USD slipped to a low of $0.0000147 earlier in today’s session, which comes roughly four days after hitting a high of $0.00001774.
This was the highest SHIB reached since May 10. However, bulls continued their retreat and sent prices lower.
Today’s decline comes as market uncertainty has heightened, which can be seen in the RSI indicator, which is currently trending sideways.
It appears that the index is moving horizontally at the level of 62, which in the past had been a resistance point and now plays the support role.
If SHIB is to move back towards this week’s earlier highs, then the RSI will need to move beyond 62, and head closer to the 70 level.
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