- Flux is making significant gains in the last 24 hours, as of this writing.
- On-chain weekly outlook and analysis support continued rally.
Flux crypto is slowly gaining traction in the financial markets due to recent gains that have rewarded investors and traders who bought in before this week.
Considering the 12-hour timeframe, the consolidating Flux/USDT pair broke out of a falling wedge pattern, retested and rose over 18% as at the time of writing.
The main purchase targets for Flux crypto are at the $0.96, $1.05, $1.20, $1.44, and $1.65 price levels.
The support level is currently at $0.82, which is expected to hold until the price may reach a new all-time high in the coming months.
Source: TradingView
Moreover, on the 3-day chart, FLUX/USDT has broken through a major resistance trendline and is poised for significant upward movement.
With this breakout, the $3.0397 price target is still in sight, indicating a potential upside of over 354% from current levels.
FLUX’s price may be in the early stages of a substantial rally towards this target.
Source: TradingView
Weekly forecasts
Flux is up 18% after recovering from a key support level on the weekly chart, which has been stable since September 2023.
The Flux price then tested this support four times, with the fourth rebound leading to significant gains.
The RSI indicator has also formed a double bottom in the oversold area and is now turning higher, indicating a potential rally.
Flux is expected to reach its highest resistance level by the end of this year or early 2025.
Source: TradingView
If we look at Flux’s market cap, it is approximately $194 million and a trading volume of $82.2 million. It has a circulating supply of 351.6 million coins out of a total supply of 440 million.
Furthermore, its fully diluted market cap is approximately $243.7 million, while its volume to market cap ratio is 42.05%, indicating that Flux is highly liquid and actively traded.
Source: CoinMarketCap
Analysis on the chain
Finally, examining the daily ratio of on-chain transaction volumes between wins and losses, along with total supply and number of holders, reveals a healthy trend for Flux.
Source: Santiment
This indicates growing interest from traders and investors. Given this positive trend and the current 18% price increase, it indicates that Flux is likely to continue rising in the coming days.
