Today on the X platform, analyst AMCrypto predicted a significant rise for Fluid (FLUID) due to the formation of a cup and handle pattern.
Fluid Cup and Handle Formation
According to AMCrypto, Fluid has formed a cup and handle pattern on the weekly chart timeframe. This pattern typically signals a bullish continuation leading to a significant market rally. If the asset manages to fully follow this pattern, its price could reach new heights above $9. However, there are doubts about whether the price could revisit its previous all-time high of $24.40, reached on June 16, 2021.
FLUID Price Updates
Over the last 30 days, Fluid's price has risen by 47.5%, and over the past year, it has increased by 181.4%. The token is currently priced at $7.21 and is approaching the $7.63 resistance mark. Technical indicators suggest a potential further upward momentum. A bullish engulfing candle has formed on the daily chart, indicating a possible greater upward movement.
Positive Market Indicators for FLUID
Market indicators show positive signs for FLUID. The Chaikin Money Flow Index, currently at +1, indicates heavy buying of the token and expresses a bullish trend. Furthermore, whale activity supports the asset's ongoing rise and could play a catalytic role in further price increases.
The positive outlook for Fluid (FLUID) is driven by the emerging cup and handle pattern and overall positive market dynamics. However, it remains to be seen whether the asset can reach its previous price records again.
