Flare operates on an EVM-based Layer 1 blockchain, similar to Solana’s structure. While exploring the potential risks of “sandwich attacks” within this blockchain—where traders manipulate prices to their advantage at the expense of other investors—Shah analyzed the price targets and market structure of FLR on YouTube.
In this analysis, Shah examined the Flare token, which is currently trading at $0.02. He noted the online presence and dedicated following. The community surrounding Flare is often compared to other prominent crypto groups, such as XRP’s XRP Army and Onyx Coin enthusiasts.
Flare Market Analysis
Shah identified a double bottom formation with a key support level at $0.025. This level has acted as a critical neckline for potential price recovery.
Despite Flare not being listed on major exchanges like Binance for undisclosed reasons, the token has demonstrated resilience by breaking out of a previous downtrend.
This breakout suggests that if the FLR price maintains its support at $0.025, it could be on a trajectory toward an upward trend.
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Flare Price Predictions
- Immediate Target: If the support at $0.025 holds, Shah predicts FLR’s next significant target to be $0.033. He emphasizes that this level is crucial, as it could signal the token’s shift toward a more bullish trend.
- Potential Downside: Conversely, if the FLR price falls below $0.0252, Shah warns of a potential decline to $0.02, necessitating close monitoring of this support level.
Shah concludes his analysis with cautious optimism regarding Flare’s future. While acknowledging the controversy surrounding its marketing strategies, he focuses on the technical indicators that suggest possible growth.
