FLOW is up by more than 8% today, outperforming the other coins and tokens in the top 100 list.
The broader crypto market has recovered from its poor performance this week.
Bitcoin and Ether are trading in the red zone.
FLOW, the native coin of the Flow blockchain, emerged as the best performer amongst the top 100 cryptocurrencies by market cap on Tuesday. The coin has added more than 8% to its value today and could rally higher soon.
At press time, the price of FLOW stands at $0.7193. There is no catalyst behind FLOW’s ongoing positive performance.
The surge comes as the broader crypto market recovers from its earlier slump. The total cryptocurrency market cap stands above $805 billion, up by less than 1% in the last 24 hours.
While FLOW is rallying, some of the major cryptocurrencies are outperforming. Bitcoin is down by less than 1% today and could record further losses in the coming hours. The price of Bitcoin currently stands at $16.735. Meanwhile, ETH has also lost less than 1% of its value and is now trading at $1,215 per coin.
The FLOW/USD 4-hour chart has just turned bullish, as FLOW has been performing well in the last 24 hours. The technical indicators show that FLOW could rally higher soon.
FLOW/USD Chart By TradingView
The 14-day relative strength index of 75 shows that FLOW could be heading toward the overbought region if the rally continues.
The MACD line crossed into the positive zone a few hours ago, indicating that the bulls are now in charge. With a more bullish move, FLOW could surge past the first major resistance level at $0.874 before the end of the day.
With the support of the broader cryptocurrency market, FLOW could cross the $1 psychological level for the first time since December 11.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
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Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
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