The cryptocurrency market has continued its poor begin to the week, shedding greater than 6% of its worth within the final 24 hours.
The crypto market has been performing poorly for the reason that begin of the week. The market has misplaced almost 7% of its worth within the final 24 hours, and the full market cap now stands above the $1.3 trillion mark.
The market has misplaced over $100 billion over the previous few hours, with LUNA’s poor efficiency affecting the broader crypto market.
Bitcoin is down by greater than 4% over the previous 24 hours and is struggling to take care of its worth above the $30k stage. Ether has dropped to the $2,300 area after shedding greater than 3.5% of its worth in the previous few hours.
FLOW, the native token of the Stream ecosystem, is down by greater than 5% over the previous few hours. The poor efficiency comes regardless of the Stream group saying the launch of its $725 million ecosystem fund.
In a blog post on Monday, Stream stated the Ecosystem Fund would help present and future builders in constructing functions on the Stream blockchain. The builders will achieve investments, FLOW token grants and in-kind help from the group.
Key ranges to look at
The FLOW/USD 4-hour chart is bearish over the previous few hours because the market continues to underperform. Regardless of the constructive information, FLOW might document additional losses within the coming hours.
The MACD line is past the impartial zone because the bearish sentiment out there thickens. The 14-day relative power index of 33 reveals that FLOW is at present oversold.
At press time, FLOW is buying and selling at $3.49 per coin. If the bearish development continues, FLOW might drop under the primary main help stage at $3.10 earlier than the top of the day.
Within the occasion of prolonged damaging efficiency, FLOW might commerce under $3 for the primary time this yr.