Is the crypto market showing signs of momentum?
The crypto market is displaying a bullish trend as we hit October. Significant altcoins are rallying, and Bitcoin's dominance has dropped from its recent peak of 61.53% to 57.37%. The spotlight appears to be on Flow (FLOW) and Flare (FLR) at the moment.
What does the chart indicate for FLOW?
What is FLOW's resistance pattern?
FLOW has been fighting against resistance in a descending triangle for two years. It's currently at $0.9710 and on the edge of this key level.
What is the breakout target for FLOW?
Confirmation of a breakout above $1.02 would likely mark a fundamental shift in a long-term down trend.
How high can FLOW go post-breakout?
Next targets on the way up are $1.71 and $2.05, which represent a potential upside of over 113%. The all-time high from back in 2021 sits at $3.27.
How is FLOW's momentum trending?
The RSI is nearing 70, which may indicate buying interest.
Is FLR on a similar path of breakout?
What does the FLR chart suggest?
FLR is showing descending wedges, which is typically a bullish sign as it may indicate accumulation at lower levels. The current price is around $0.02782.
What happens if FLR breaks free from the wedge?
If FLR breaks above the wedge trendline, it could aim for its first major resistance at $0.060, a full 100% gain. Ascending patterns on FLR in the past have led to rapid price increases.
What is FLR's RSI indicating?
Currently, the RSI is already at 79.65, which signals a vibrant market, but the potential for a pullback.
How do external factors influence crypto prices?
How does liquidity affect altcoins?
Global liquidity can be a double-edged sword. On one hand, government stimulus and other moves increase capital in the crypto market. But then, it can lead to price inflation.
How does the economic landscape affect these coins?
Bitcoin's market cycle is often followed by an altcoin cycle. Economic climate plays a large role too, as high inflation or an economic downturn can lead buyers toward these tokens.
How crucial is the regulatory framework?
With regulations being introduced, coin availability can also play a significant part.
Will market dynamics help drive demand?
But as major crypto like Ethereum rises, so does the wealth of its holders. This wealth can drive them into altcoins that are also vying for their attention.
How important is technological advancement?
Technological innovation also matters. A token that can't find a real-world application will probably get left behind.
How are companies adopting crypto?
What are crypto on-ramps?
Crypto on-ramps are present to make it easy to convert fiat to crypto currency. The simplified process should also help keep customers from dropping off before completing a transaction.
What do these on-ramps do for user experience?
On-ramps like Ramp or Moonpay have made the exchange simpler for most people.
How important is compliance to crypto companies?
On-ramp solutions ensure you're compliant with financial regulations. Instead of building your own compliance framework to get licenses, you can just use these.
What do they mean for user acquisition?
Your product will help reduce barriers to entry for an increasingly interested audience.
But can you keep up with demand?
The speed of the sale matters. Time-sensitive investments can evaporate in seconds.
How do they help with security?
Crypto on-ramps offer security and reduce fraud risk.
Where is scalability important?
These are also easily customizable.
Summary
Both FLOW and FLR have breakout potential. For any of these gains to be sustained, the right macro conditions need to exist. Solutions like crypto on-ramps can also lead to a speedier investment process.
