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FLEX Coin (FLEX) Price Prediction – When will FLEX hit $15?

FLEX Coin (FLEX) Price Prediction
author Written by
Rex John Walsh
author Fact checked by
Sangram Mohanta

Last Updated on June 3, 2024 by TOP FOREX BROKERS REVIEW

FLEX, the native token of the CoinFLEX exchange, which showed buying pressure in the recent month after the restructuring plan from courts in Seychelles.

CoinFLEX was launched on 4 July 2019 as a future exchange with a daily trading volume of an average of 200 to 400 million US Dollars. 

Currently, the FLEX token is trading 43% higher from the weekly opening, which is a remarkable gain since its inception. The current trading volume of the last 24 hours was spotted at $246,265. Also, the current market cap of this token is $667,343,204, which allowed it to remain at the 210th position in the coinmarketcap. 

The current circulating supply of the FLEX is at 98,664,939 FLEX, which is 98% of the overall supply.

Bitcoin dominance is seen in the broader outlook, while altcoins are slowly bleeding out. As of now, BTCUSD's price hovers at the 29,000.00 area, which shows remarkable gains compared to altcoins. 

Despite altcoin performance, FLEX Coin Price Prediction shows a strong upside movement and might extend the gain in the coming days.

Let’s see the FLEX Coin price prediction today from the FLEX/USDT technical analysis:

FLEX/USDT Bullish Impulse Seeks Liquidity

FLEXUSDT Bullish Impulse Seeks Liquidity

In the daily price of FLEX/USDT, the broader outlook is bullish as the current price is trading near the all-time high level, supported by several higher low formations. The ideal trading approach in this structure is to wait for a valid correction and meet the price inefficiency before opening a long position.

The weekly structure is the four consecutive bullish weeks where the current weekly candle offers the highest gain. It is a sign that buyers have overextended the price, and a downside correction is potent before attempting another buy.

The current 20-day Exponential Moving Average is the immediate support in the daily price, which came within a critical demand zone. Also the dynamic 50 SMA is also working as a support, with a downside possibility as a mean reversion.

Moreover, the RSI shows a strong upside pressure as the current reading is above the 70.00 line.

Based on the FLEX Price Prediction, investors might expect the downside pressure to extend in the coming days. However, a decent recovery is possible from the 5.000 to 3.000 area, from where a new bull run could extend toward the 10.00 level.

The alternative trading approach is to seek a counter-impulsive downside pressure from the 7.000 to 6.000 area, with a bearish D1 candle at the 2.559 level. In that case, the downside pressure may extend towards the 1.000 and even 0.551 levels. 

FLEX/USDT Ichimoku Cloud Analysis

FLEXUSDT Ichimoku Cloud Analysis

In the H4 chart, a stable bullish momentum is clear above the Ichimoku Kumo Cloud zone, where the current price is anticipating a bullish pressure with a new higher high formation.

The future cloud shows a strong upside momentum as the current Senkou Span A is above B with a bullish slope. The same structure is present at the indicator window, where the current Traders Dynamic Index shows a buying pressure by remaining above the 50.00 line.

As long as the price trades above the Cloud support, we may expect the upside pressure to be potent, targeting the 10.00 psychological level. However, an impulsive downside pressure with an H4 candle below the 2.550 level might make the current buying pressure obsolete. In that case, a new bearish trend may appear, where the ultimate aim is to test the 1.000 support level.

FLEX/USDT Intraday Supply Demand Analysis

FLEXUSDT Intraday Supply Demand Analysis

In the H1 chart, a trader should consider 2.559 and 3.759 as significant swing lows. Both swing formations came with a sell-side liquidity sweep, indicating a strong buyers presence. As a result, the bulls might find this area potent if the price comes towards this area again in the coming hours.

The High volume level formation supports the bullish possibility, where the current reading is at 2.246. However, the indicator window shows a different story, with a bearish crossover visible from the overbought zone. 

Based on the H1 FLEX Coin price Forecast, the price is already trading higher from the intraday demand zone, and investors should wait for the reaction from this area before anticipating a trend. Until then, the buying momentum is potent if the price trades above the high volume level.

Is FLEX/USDT A Buy?

In the FLEX Price Forecast, The HODLing approach needs a valid bullish rejection candlestick formation from a reliable support area, which may come after the mean reversion. The alternative option is to wait for another- sell-side liquidity sweep in the intraday chart before opening a long position.

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