Flow: This is why short-term traders are not enthusiastic about this price flow

Metaverse powered blockchain, flow In the items again. Of course, it is not taking the cryptocurrency market by storm with an unprecedented rally. However, the network appears to be focusing on providing more options for its users to access its decentralized infrastructure.

To achieve its goal, FLOW has added some integrations to its recently launched Decentralized Exchange (DEX), MetaplierFlow. According to reports from FloversThe merger led to a partnership with a cross-border chain platform, celery net.

Two steps forward

The latest partnership is another one that has pushed towards the decentralization of the ecosystem. Remember, this isn’t the first time you’ve created such systems. Previously, FLOW cooperated With a decentralized autonomous organization (DAO) toward a similar mission.

Although there are some differences, the recent development will mean that FLOW users can easily connect to other cryptocurrencies. The assets mentioned are ia USDCAnd the Wrapped Ethereum [WETH]And the Ethereum [ETH]And the And the wrapped bitcoin [WBTC]. Despite the additions, FLOW seemed uninterested.

one foot behind

The consolidation did not result in positive price action for FLOW. per coinThe coin appears to prefer to “float” towards the south. As of this writing, the coin is exactly $1.90. This value was a 9.5% decrease over the last 24 hours. Interestingly, the 30-day cumulative change was still positive with an increase of 18.58% on August 26.

However, a one-month green buying wasn’t enough to give the coin a positive feel. FLOW investors may find some positive effects from these updates. First, the 4-hour chart of USDT has shown much lower volatility than it did between August 18 and August 22. This sentiment was revealed by Bollinger Bands (BB).

In terms of momentum, the RSI was neutral but showed bleak signs at 45.70. While judging it another step forward, the Awesome Oscillator (AO) was indecisive on whether it was a bullish or bearish edge. Although it was more than a negative sign with an AO value of -0.048.

Source: TradingView

Going into the chain part, FLOW’s impressions may not match expectations, especially for short-term traders. according to feelingsThe merger turned the development activity into a positive direction. But for a total supply of whales worth $5 million and more, there was almost no change.

Source: feeling

With FLOW 94.9% far from reaching an all-time high (ATH) again, investors may want to keep their hopes to a minimum. But all may not be lost even if the cryptocurrency market shows no clear signs of leaving its bearish state.

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