Join Our Telegram channel to stay up to date on breaking news coverage
The Flare price is up 33% in the last 24 hours to trade at $0.0222 as of 3:00 a.m. EST time with a 1,215% surge in trading volume.
The remarkable surge in trading volume comes on the back of a Google announcement, indicating a plan for Google Cloud to join the Flare network as a Validator.
Flare onboards @GoogleCloud as an infrastructure provider to validate the network and contribute to the Flare Time Series Oracle.
Enshrining decentralized data delivery in a dual role with network validation is what makes Flare the Blockchain For Data.https://t.co/bJF9yX7GrX pic.twitter.com/oGySMD4vVq
— Flare ☀️ (@FlareNetworks) January 15, 2024
Google Cloud To Join Flare As A Validator
Flare, famously known as “the blockchain for data” and leveraging its Oracle system to give developers access to decentralized data, now has Google Cloud as its validator. It comes after technology conglomerate Google’s (GOOGL) cloud division joined the Flare blockchain as an infrastructure provider.
In a statement to a news site, Google Cloud has committed to securing the Flare network in the validator capacity while at the same time contributing to the Flare Time Series Oracle (FTSO).
The integration is a testament to ongoing blockchain adoption among giants in the technology space, with Google now added to the list.
Flare Price Prediction As FLR Confronts The 200-day EMA
After a 33% climb, Flare price faced a rejection from the 200-day Exponential Moving Average (EMA) at $0.0262. This was the aftermath of an overbought asset, with the Relative Strength Index (RSI) reading for FLR being at 81, provoking a correction.
The RSI crossing below the 70 level confirmed Welles Wilder’s interpretation of an overbought asset, with some traders expected to start booking profits. If the bears have their way, the Flare price could descend further, losing the support offered by the 25-day EMA at $0.1798, or lower, and the 50-day EMA at $0.0166.
If these levels fail to hold, the Flare price could extend the fall to the $0.0157 support level, with a breakdown of this buyer congestion level sending FLR price to 100-day EMA at $0.0154. Such a move would constitute a 30% fall below current levels.
TradingView: FLR/USDT 1-day chart
Converse Case
On the flip side, judging from the outlook of both the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) indicator, the bulls still have a presence in the FLR market. Specifically, the histogram bars of the AO are flashing green in the positive territory while the MACD continues to move above the signal line (orange band) after crossing above it on January 14.
With this, it should not come as a surprise if the Flare price recovers. Increased buying pressure could see the FLR price overcome the resistance due to the 200-day EMA, with the potential to extend higher to the $0.0300 psychological level. In a highly bullish case, the gains could extrapolate to the range high of $0.0328, standing 48% above current levels.
Besides the Flare price, another project that is recording exponential gains for investors is LPX, which has helped its investors gain returns as high as 2,912%. With volatility returning to the cryptocurrency market post spot Bitcoin ETF hype, traders will do well to have trading signals to steady their hands.
LPX is also one of analysts’ top picks for the best AI crypto coins to buy in 2024. LPX also features among their top three picks for the best presales now.
Promising Alternative To Flare
LPX is the native cryptocurrency for the Launchpad XYZ ecosystem, the choice destination for investors looking for the next 10X trades. It is also the go-to place for investors tired of waiting on presale promises or being dumped on.
🔍 Ready to outperform in the #Crypto market? #LaunchpadXYZ gives you that competitive edge with real-time data analysis, market insights, and advanced trading tools. 🛠
Step up your trading strategy and stay ahead of the curve. 📊 #TradingEdge #Presale #BullMarket pic.twitter.com/iXKGRjoGqr
— Launchpad.xyz (@launchpadlpx) January 14, 2024
The project has made Web3 human by simplifying a complex world into one familiar home. Regardless of traders’ level of skill or expertise, Launchpad XYZ helps you discover how things work, what the risks are, and how to operate safely.
#LaunchpadXYZ makes #Web3 human by simplifying a complex world into one familiar home. 🏠
Discover how things work, what the risks are, and how to operate safely.#Presale #Blockchain #Crypto #Alts pic.twitter.com/EmADe2eBce
— Launchpad.xyz (@launchpadlpx) January 11, 2024
The Launchpad XYZ presale has raised more than $2.54 million. Investors can buy LPX now by navigating to the website, where each token sells for $0.0445. Join the many traders who are already reeling in profits of as much as 30x ROI from the free calls provided on Launchpad XYZ
🌍 Macroeconomic factors like inflation and regulatory news can heavily impact the #Crypto market.
Stay informed on global economic trends. 📈#Web3 #LaunchpadXYZ #Trade pic.twitter.com/ype7LXU23Z
— Launchpad.xyz (@launchpadlpx) January 13, 2024
Visit Launchpad XYZ to buy LPX in the presale here.
Also Read:
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 100% APY
Join Our Telegram channel to stay up to date on breaking news coverage
Credit: Source link
