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The cryptocurrency Flux gained 18% in value in the last 24 hours, attracting attention. The rapid rise in the cryptocurrency has particularly increased investor interest. Analysts signal a larger increase in the future. Flux’s rally has created great excitement in the markets. So, what is being said about the continuation of the increase?
What Are the Supportive Data for the Rally in the Weekly Chart?
The cryptocurrency Flux made a bounce from a significant support level in the weekly chart. Since September 2023, the $0.4 support level has been consistently maintained. Flux testing this support four times and gaining in the last bounce could be a sign of a continued rise. Additionally, the RSI indicator forming a double bottom pattern in the oversold region signals an upward movement.
Analysts have set potential price targets for Flux at $0.96, $1.05, $1.20, $1.44, and $1.65. The current support level stands out at $0.82, and if this support is maintained, the price is expected to reach a new peak. If Flux continues this trend, it could reach a target price of $3.0397, marking a 354% increase.
Current Status of Flux’s Market Value and Trading Volume
Flux’s market value stood at approximately $194 million. The trading volume was recorded at $82.2 million. Despite the total supply being 440 million, the circulating supply is at 351.6 million. The fully diluted market value was calculated at approximately $243.7 million. Additionally, the volume/market value ratio was 42.05%. The calculated percentage shows that Flux has high liquidity.
When examining daily on-chain transaction volume ratios, a healthy trend is observed in profit and loss ratios, as well as in total supply and the number of holders. The healthy trend structure reveals that investor and trader interest in Flux is increasing. Today’s 18% price increase and positive trend indicate that Flux may continue to rise in the coming days.
So, what should investors pay attention to? Let’s remember that Flux rose to $1.72 in March and then pulled back from there. In the event of a rapid increase, it is possible for the price to regain these levels. It should be noted that the all-time high for the cryptocurrency Flux is $4.16.
