Flare (FLR) Price Surges 40% in April — May Rally in Sight if Bulls Clear This Hurdle

Key Takeaways

• Flare (FLR) broke out from a long-term descending parallel channel.
• Despite the breakout, FLR failed to reclaim a critical resistance level.
• Can FLR continue its ascent in April, or was that the end of the breakout?

Flare’s four-month downward trend finally reversed in April, leading to a 40% surge and a breakout from a long-term corrective pattern.

The rally continued in the first week of May, leading to a high of $0.022 before a slight decline after reaching resistance.

Will FLR break out above this resistance, causing a similar rally in May, or is the upward movement over? Let’s find out.

Flare Price Breaks Out

The daily time frame chart shows that FLR had fallen inside a descending parallel channel since its cycle high in December 2024.

After a  72% drop, FLR broke down from the $0.012 horizontal support area, reaching the lowest price since 2023.

However, FLR regained its footing and reclaimed the area, turning the previous breakdown into a deviation (black circle).

The bounce gave momentum to the FLR price, which broke out from the channel after several attempts (red icons), as predicted at the beginning of April.

While the thrust after the breakout has been formidable, the price has struggled with a confluence of resistance at $0.023.

A breakout above this area could accelerate the rally toward $0.030.

Technical indicators support the Flare price increase and legitimize the breakout.

The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing, and neither has generated a bearish divergence.

So, the daily time frame gives a bullish FLR price prediction.

Flare Hits Local Top

While the daily time frame is bullish, the six-hour one suggests a local top is in place because the wave count shows a completed A-B-C correction.

Waves A and C had the same length, indicating the corrective structure ended.

In addition to the bearish count, the FLR price trades inside an ascending parallel channel, and the sub-wave count (black) shows a complete five-wave increase.

The proposed decline does not necessarily mean the entire FLR rally is over.

However, it predicts an initial breakdown from the channel, taking the FLR price toward $0.015.

Afterward, the reaction once the FLR price reaches that level will determine if the token is in wave B in a longer-term A-B-C structure (red), leading to another rally in May.

A breakdown from the channel will confirm the prediction of the bearish short-term flare price.

May Correction Ahead

The Flare price performed admirably in April, increasing 40% and breaking out from a long-term parallel channel.

However, the token has hit a temporary roadblock, which could cause a FLR price decline in the first week of May.

Nevertheless, the FLR price may still have another upward movement left in the second half of May, which will cause a breakout above the $0.023 resistance.