Flow Price Prediction 2024: FLOW Price Analysis

Key Takeaways

• Flow’s FLOW price increased in early 2024, getting close to $1.
• The token then decreased to around $0.60.
• Designed as a potential rival to Ethereum, it has had a pretty tough two years or so.
• One price prediction says it may reach $1.33 next year.

Flow (FLOW)  has undergone an extended period of consolidation, with prices remaining below a significant resistance level for approximately ten months. However, the altcoin recently exhibited a bullish pattern, indicating a potential strong upward trend.

Bitcoin (BTC) surged above $50,000 in mid-February 2024, due to the growing interest of institutional investors in the digital currency space through exchange-traded funds. This surge catalyzed notable gains across the altcoin market, also boosting FLOW.

Since then, the token has fallen and was worth $0.6302 on July 25, 2024.

Flow did not respond to a request for comment

Let’s take a look at our Flow price predictions, made on July 25, 2024. We will also examine the Flow price history and talk a little about what Flow is and what it does.

Flow Price Prediction

Let’s examine some of Flow price predictions CCN made on July 25, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.

Flow Price Prediction for 2024

If the positive momentum continues and FLOW breaks above its moving averages, it could reach targets between $1.59 and $0.78 by the end of 2024, with the average price set at $1.82.

Flow Price Prediction for 2025

Technical analysis suggests a potential increase for Flow in 2025. The minimum FLOW price expected for 2025 is $1.15 while the maximum one is $1.33. On the other hand, the average forecast suggests it may reach $1.18.

Flow Price Prediction for 2030

Based on technical analysis, the FLOW token may reach a maximum level of $7.92 at the beginning of the next decade, while, in the worst scenario, it may go to $9.94. Meanwhile, the average expected price is $8.21.

Flow Price Analysis

Flow’s technical indicators suggest a predominantly bearish outlook. The Relative Strength Index (RSI) stands at 37.184, indicating a sell signal. Similarly, both the Stochastic (STOCH) at 38.376 and the Stochastic RSI (STOCHRSI) at 21.618 point towards a sell, with the latter being in the oversold territory. The Moving Average Convergence Divergence (MACD) reads -0.07, reinforcing the sell sentiment.

The Average Directional Index (ADX) is at 43.484, indicating a strong sell trend. The Williams %R at -74.545, Commodity Channel Index (CCI) at -115.235, and Highs/Lows reading at -0.0836 all align with the bearish outlook.

Additionally, the Ultimate Oscillator registers at 47.548, and the Rate of Change (ROC) is at -2.1, both supporting a sell signal.

The Bull/Bear Power index is at minus 0.298, further confirming the bearish sentiment. Notably, the Average True Range (ATR) is at 0.1236, indicating high volatility.

Short Term Flow Price Prediction

Based on our latest Flow price prediction, the value of Flow is expected to rise by 6% in the next 24 hours and to increase by 223% in the next month, reaching $2.12 by August 24, 2024.

Despite this optimistic forecast, technical indicators reveal a bearish sentiment, and the Fear & Greed Index is at 68 (Greed). Over the past 30 days, Flow has experienced 16 out of 30 green days and has shown a price volatility of 7.13%. Given these factors, it may not be the best time to buy Flow right now.

Flow Relative Strength Index (RSI): Is FLOW Oversold or Undersold?

Flow Price Performance Comparisons

How Do We Make a Flow Price Prediction?

Our price prediction for Flow combines technical analysis tools and recognizes the logic in price cycles. We usually use the Relative Strength Index, Fibonacci, and other main technical analysis tools. Applied to the Flow-specific time-frames and its price history, we can come up with the targets, but the further we project, the less accurate they are. This is because they depend on what happens in between.

Best Days and Months to Buy Flow

We took a look at the Flow price history and found the times when the price was at its lowest across certain days, months, quarters and even weeks in the year, suggesting the best times to buy FLOW.

Flow Price History

Following that, let’s now take a look at some of the key dates in the Flow price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Flow price prediction.

Flow Market Cap

The market capitalization, or market cap, is the sum of the total number of FLOW in circulation multiplied by its price. On July 25, 2024, Flow’s market cap was $957.3 million, therefore making it the 70th largest crypto by that metric.

Who Owns the Most Flow (FLOW) Tokens?

On July 25, 2024, one wallet held 59.30% of FLOW’ supply.

Richest FLOW Wallet Addresses

As of July 25, 2024, the five wallets with the most Flow  tokens were:

• 0x7c5a7328ba50f57689dd8c6210cda54df337a471. This wallet held 5,930,441,523 FLOW, or 59.30% of the supply.
• 0x6dafde4c39f6d4b796a1fd48dcb362f9c4dbe8fd. This wallet held 2,219,044,039 FLOW, or 22.19% of the supply.
• 0xf500b1d9ddbbffcb9c3974cc5bc3425139a9b857. This wallet held 1,140,653,475 FLOW, or 11.41% of the supply.
• 0x5d1cad77d4b5e672fc17c4bb175eadcf932aae2b. This wallet held 206,718,848 FLOW, or 2.07% of the supply.
• 0x000000000000000000000000000000000000dead. This wallet held 116,836,657 FLOW, or 1.17% of the supply.

Flow Supply and Distribution

From the Flow Whitepaper

In its technical documentation, or whitepaper , Flow says that its architecture is founded on the principle of ‘separation of concerns’. The network has specialized roles: Consensus Nodes and Execution Nodes. The core differentiation between the two node types is Objectivity vs. Subjectivity.

Flow Explained

When non-fungible tokens (NFTs) excited the cryptosphere and the world beyond that in late 2021 and early 2022, the consensus was that most of the rights to links to individual pieces of digital art would be on the Ethereum (ETH) blockchain. This concept also applied to The Metaverse, and the idea that people could interact via avatars in a massive virtual world. 

However, the Flow  blockchain aimed to provide an alternative. Arguing for quicker speeds and cheaper transactions than Ethereum, the platform, launched in early 2021, was designed to help people create their own systems.

Flow is the brainchild of Dapper Labs, the organization behind the pioneering CryptoKitties NFT collection, and is supported by the FLOW coin.

How Flow Works

The Flow blockchain uses a Proof-of-Stake (PoS) consensus mechanism, meaning that people are chosen to add blocks to the blockchain based on how much FLOW they own. 

Regarding the FLOW coin itself, it can also be staked in return for rewards, and people who hold it can vote on changes to the network. It can also be used as collateral for crypto loans and is used to pay for data storage and transaction fees on the blockchain.

It can also be bought, sold, and traded on exchanges.

Is Flow a Good Investment?

It is hard to say. On one hand, the coin has been rather at the mercy of the market, although recent developments might give some people a cause for optimism.

Perhaps more importantly, in a world where Ethereum now operates on a Proof-of-Stake basis, it is hard to see why someone might want to take a risk on FLOW rather than ETH. 

That said, crypto is nothing if not unpredictable, so we never know precisely what is around the corner. As always, you will have to do your own research before making a decision. 

Will Flow go up or down?

No one can really say for sure. While the price predictions are generally positive, price predictions are very often wrong. You should also remember that prices can, and do, go down as well as up.

Should I invest in Flow?

Before you decide whether or not to invest in FLOW, you will need to do your own research, not only on FLOW but on other, similar, coins and tokens, like Ethereum. Most importantly, though, you will have to make sure you never invest more money than you can afford to lose.

FAQs

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

About the Author

Giuseppe Ciccomascolo

Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors. Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.

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