🚨 Flare (FLR) confirms bullish crossover as price targets 20% rally

🔹FLR price shot up to an 8-month high of $0.028 on Sep. 24.
🔹The token rallied following the debut of FXRP, the first live product of its FAssets protocol.
🔹A bullish crossover was confirmed on its daily chart.
📈 FLR price analysis
🔹On the daily chart, FLR price has broken out from its consolidation range of $0.023-0.025, within which it had been trading over the past week. The breakout suggests that bulls have grown dominant over the market as selling pressure waned following the FXRP news.
🔹The 20-day simple moving average has now crossed above the 50-day SMA, which forms what is known as a bullish crossover in technical analysis. Traders typically view this as an early signal that the asset is beginning to move out of consolidation and into an uptrend.

🔹On top of that, momentum indicators like the MACD lines have pointed upwards. In technical analysis, this metric also points to the market gaining strength back after recent weakness.
🔹With community sentiment currently supportive and the RSI yet to move into overbought territory, the possibility of an upside continuation remains on the table in the short term.

🔹Hence, FLR will most likely rally to $0.032, a target that aligns with the 61.8% Fibonacci retracement level. The target lies 23% above the current price level.

🔹Meanwhile, in case the bullish momentum surrounding FLR fades out, the key support for the token lies at $0.023, its 20-day SMA.
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