CandleFocus Flare Faces 7% Drop After 100-Day EMA Rejection: Can Bulls Push Beyond $0.016?
2024-10-03
Author: Content Editor
Flare (FLR) is experiencing a potential decline and bearish exhaustion after a 7% drop. The key question is whether FLR can break above the consolidation range for a potential breakout. While FLR initially saw a bullish rally and broke above a falling wedge pattern, profit-taking and supply pressure led to a 7% intraday drop. FLR is currently struggling to secure a close above its resistance ceiling at $0.016. However, there is a growing bullish divergence in the daily RSI line, suggesting a potential bullish continuation. Key resistance levels to watch are at $0.02320, with support levels at $0.01426, $0.01341, and $0.012.
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