I've called Flare a Phoenix rising against the selling pressure against the guys dumping from the distribution airdrops.
If we look at the recent movement, this is a parabolic price rise. Where I grow concerned is where the support levels of this acceleration need to be correctly built under the value expressed in the current FLARE pricing. If not, we could see a sudden and violent drop in pricing when a whale decides to take profits.
While I'm happy to see the skyrocket take flight, I caution that we could see a strong pullback before breaking back into prior airdrop pricing.
Hold on.
If we look at the recent movement, this is a parabolic price rise. Where I grow concerned is where the support levels of this acceleration need to be correctly built under the value expressed in the current FLARE pricing. If not, we could see a sudden and violent drop in pricing when a whale decides to take profits.
While I'm happy to see the skyrocket take flight, I caution that we could see a strong pullback before breaking back into prior airdrop pricing.
Hold on.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.