CoinDCX Lists New Futures Trading Pair: FLM/USDT – Trade Now!

Key Takeaways:

• FLM is a token that has been on a downward trend over the past ten months, ever since September 2022.
• FLM/USDT has found it very challenging to break out beyond the $0.1 mark ever since the beginning of 2023 and every attempt has been met with failure over the past six months.
• If the altcoin is able to break out of the $0.1 level and, eventually, the $0.14 level, then we could see some bullishness come back in.
• Until those prices are attained, tactical sell-side trades seem more viable in the current situation as the token has not been able to perform despite the broader market performing reasonably well.

FLM/USDT Price Analysis

FLM/USDT | Source: TradingView

• Flamingo’s native crypto token, FLM, has not been following the broader market bullishness in 2023 – and despite heavyweights like Bitcoin and Ethereum gaining over 80% and 55% each this year so far – this particular altcoin, however, has managed to practically in a range.
• As depicted on the chart above, on a nearly 10-month period, from September 2022 to June 2023 – the altcoin has been on a descent, and since the beginning of 2023, FLM/USDT did try to rally but lost out every time.
• In fact, in early June, FLM/USDT momentarily touched sub-$0.05 levels before recovering quickly up to $0.1 and falling back down to now resting at $0.07.
• From a technical point of view, the token is under a bearish run, thus could potentially give good returns on the short side, as we see a death cross on the chart of the 50-day and the 200-day exponential moving averages.
• Further, FLM price is also trading below both those aforementioned moving averages, thus putting more weight on the sell side of this market.
• For any bullish upside, the coin needs to definitively break out of the $0.1 level and, eventually, the $0.14 level, too, the latter of which happens to be the YTD high zone.

Read More: CoinDCX Lists New Futures Trading Pair: STX/USDT

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FLM 2023 Price Prediction

FLM is a token that is under a bearish skew from every technical indication out there, and as mentioned before – a break out of the $0.1 level and, eventually, the $0.14 level is absolutely necessary for any bullishness to return to this particular token. But until then, sell-side positions seem to be more favorable for the altcoin as bearishness is abound from a technical standpoint.

Values as on June 30, 2023.