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FLOW is up by more than 8% today, outperforming the other coins and tokens in the top 100 list.
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The broader crypto market has recovered from its poor performance this week.
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Bitcoin and Ether are trading in the red zone.
FLOW outperforms the other major cryptocurrencies
FLOW, the native coin of the Flow blockchain, emerged as the best performer amongst the top 100 cryptocurrencies by market cap on Tuesday. The coin has added more than 8% to its value today and could rally higher soon.
At press time, the price of FLOW stands at $0.7193. There is no catalyst behind FLOW’s ongoing positive performance.
The surge comes as the broader crypto market recovers from its earlier slump. The total cryptocurrency market cap stands above $805 billion, up by less than 1% in the last 24 hours.
While FLOW is rallying, some of the major cryptocurrencies are outperforming. Bitcoin is down by less than 1% today and could record further losses in the coming hours. The price of Bitcoin currently stands at $16.735. Meanwhile, ETH has also lost less than 1% of its value and is now trading at $1,215 per coin.
Key levels to watch
The FLOW/USD 4-hour chart has just turned bullish, as FLOW has been performing well in the last 24 hours. The technical indicators show that FLOW could rally higher soon.
The 14-day relative strength index of 75 shows that FLOW could be heading toward the overbought region if the rally continues.
The MACD line crossed into the positive zone a few hours ago, indicating that the bulls are now in charge. With a more bullish move, FLOW could surge past the first major resistance level at $0.874 before the end of the day.
With the support of the broader cryptocurrency market, FLOW could cross the $1 psychological level for the first time since December 11.