Flare (FLR) Price Prediction: Range Breakout Imminent?

FLR price has witnessed significant buyer accumulation activity and surged over 12% this week. The token's Total Value Locked (TVL) has surged past the $16

The price of Flare (FLR) has seen a significant amount of buying activity this week, surging over 12%. The token’s Total Value Locked (TVL) has also seen a large increase, surging past the $16 Million threshold and heading close to the ATH of $16.85 Million.

This increase in TVL is pointing to growing investor confidence in the network, which is also being reflected in the price action. The price seems to have bottomed out and is now on the brink of a range breakout.

For the past two months, the FLR price has remained capped inside a tight range and displaying consolidation on the chart. However, increasing trading volume and investor confidence are signaling a breakout, which could see FLR crypto making a massive upswing in the coming sessions.

Moreover, the token is showing a four-day bullish streak and gaining immense bullish momentum. It has climbed past the 20-day and 50-day EMAs, reflecting the heightened buying pressure.

A daily close above the level will validate the range breakout, which may send FLR crypto toward $0.02000 in the coming sessions.

At press time, the FLR was trading at $0.01648. It surged over 3.90% over the last 24 hours and 10.33% over the previous seven days.

“IT'S ABOUT TIME IT DID SOMETHING!” – @KingKaranCrypto in his tweet, indicating that FLR crypto has captured momentum and could skyrocket soon.

If the current investor interest and positive sentiment persist, FLR crypto might successfully breach the range and massive upsurge in the following sessions, allowing the altcoin to trigger a bullish reversal, leading to new delights.

The daily timeframe analysis for Flare Crypto showed that the buyers were attempting to breach the region’s upper resistance band. By breaching this, they anticipated a breakout move.

Recently, altcoin reverted from the support zone of $0.01400 and gained bullish momentum. Also, a bullish divergence was noted in the RSI.

Currently, the RSI rests at 62 at press time, conveying the increasing buying pressure on the chart. Alongside the four-day FLR price surge, a successive increase in trading volume of over 140% was noted. This signified market optimism.

The Chaikin Money Flow (CMF) plotted a bullish reading at 0.15. It represented the surge in liquidity in the market.

Total Value Locked (TVL) On The Rise

Since 2024, Flare Crypto’s TVL has been increasing. At press time, it reached $16.6 Million.

This significant rise in TVL implies growing investor confidence and market optimism. Notably, the altcoin’s TVL was approaching its peak, making a new ATH mark.

Futures Market Data Outlook

Following the significant buying interest, traders were positioning for a big run, as indicated by the funding rate. Since Sep 18, it remained in the positive region, at 0.0073%.

The positive funding traders are going long and expecting the FLR price to rise ahead.

Furthermore, the Open Interest (OI) rose over 13.2% to $3.81 Million, signifying prolonged buildup activity, which resembles a positive outlook.

The immediate support zones were around $0.01560 and $0.01430. On the other hand, the resistance levels were around $0.01750 and $0.01900.