FLOW was trading higher on Thursday as the token rose after seven straight days of decline. This surge is despite the global crypto market cap trading 1.14% lower at the time of writing. Shibaura fell nearly 10% in today’s session.
Flow
Flow was one of Thursday’s notable moves, as the token rebounded after seven straight days of declines.
The price drop saw FLOW hit a low of $2.54, which has also served as a recent support point.
However, as was the case on August 8, the last time prices were at this bottom, bulls chose to re-enter the market and FLOW/USD reached a peak of $2.80 today.
Since hitting a support point, the FLOW bulls now appear to be targeting the $3.00 resistance level.
But to approach this point, the token must first overcome the Relative Strength Index (RSI) obstacle.
The RSI is at 60.32, just below the upper limit of 61.19 where the bears have historically been located.
SHIB (SHIB)
FLOW rose nearly 10% on Thursday, while SHIB fell by about the same amount.
SHIB/USD fell to a low of $0.0000147 in today’s session, almost four days after hitting a high of $0.00001774.
The price was at its highest level since May 10, but then the bulls exited their positions and the market began to move lower.
Today’s decline is due to increasing uncertainty in the market, which can be seen in the RSI indicator, which is currently trending sideways.
The index seems to be moving horizontally at the 62 level, which in the past served as a resistance point and now occupies the role of support.
For the SHIB to return to the highs of earlier this week, the RSI would need to cross 62 and approach the 70 level.
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