FLUX Price Prediction: 13% Price Pump Shows Sustainable Momentum

cryptonews.com:

The cryptocurrency market might be in a recession, as evidenced by Bitcoin’s failure to reclaim the $20K levels. The global cryptocurrency market cap is also struggling to maintain the $1 trillion level. However, the pullback is not affecting all tokens because some, like FLUX, registered triple-digit gains during the past month.

FLUX has made a 13% gain during the past 24 hours to trade at $1.33 at the time of writing, according to CoinGecko. The gains made during this period have added momentum to FLUX’s weekly gains, that now stand at 27%.

The gains made by FLUX during the past 24 hours stem from increased interest in the token by traders, as evidenced by the trading volumes that have reached $92 million during the past 24 hours.

FLUX reached an all-time high of $3.33 in January this year. However, since clinching these record highs, the token has lost 60% of its value. Nevertheless, FLUX is what could be seen as a “rising star” given that its triple-digit gains have raised its market cap, which now stands at $340 million.

Despite the bullish candle created over the past month, the Relative Strength Index (RSI) shows that FLUX is yet to exhaust the uptrend. The RSI of 52 shows that the token’s buying pressure is still high, but the overbought levels are yet to be reached, which lowers the risk of a downtrend.

Additionally, the Moving Average Convergence Divergence does not show any danger of a massive pullback soon. Therefore, FLUX could likely continue with the uptrend, at least for the short term.

However, as an investor, you should be cautious before investing in this coin because the sporadic gains made during the past month could quickly be erased, and FLUX could drop to the previous low. Additionally, there are no