The cryptocurrency market may finish the week in a optimistic style after including greater than 1% to its complete worth in the final 24 hours.
The cryptocurrency market has maintained its optimistic efficiency over the previous few days. The complete market cap is closing in on $1.1 trillion after including greater than 1% to its worth in the final 24 hours.
Bitcoin is buying and selling above $23k as soon as once more after including 1% to its worth to this point in the present day. Ether continues to keep up its value above the $1,600 psychological degree heading into the weekend.
FLOW, the native token of the Flow blockchain, is the greatest performer amongst the high 30 cryptocurrencies by market cap. FLOW has added 39% to its worth in the final 24 hours, outperforming the different main cryptocurrencies.
The main catalyst behind this rally is the announcement by the Flow workforce that its partnership with Instagram is now energetic.
In a tweet on Thursday, the Flow workforce mentioned choose customers can now join their Dapper pockets and showcase their favorite NFTs instantly on their Instagram account.
Key ranges to observe
The FLOW/USD 4-hour chart is extraordinarily bullish as Flow has been performing excellently over the final 24 hours. The technical indicators present that FLOW is outperforming the broader cryptocurrency market.
The MACD line is deep inside the optimistic zone, indicating bullish momentum. The 14-day relative power index of 68 reveals that FLOW is heading in direction of the overbought area if the optimistic momentum will be maintained.
At press time, FLOW is buying and selling at $2.64. If the bulls stay in cost, FLOW may surge previous the $3.05 resistance degree earlier than the finish of the day. However, it might want the assist of the broader market to cross the $4 mark for the first time in almost six months.
