Flare Price Analysis: Can FLR Rally to $0.08 This Bull Run?

Highlights:

• Flare Price has dropped 2% to trade at $0.0348 as trading volume plummets.
• Crypto analysts have noted that that Multichain is coming to Flare Network in big numbers in 2025. 
• Flare Network has unlocked the fun where users can participate in governance voting.

The Flare price has plunged 2% today to trade at $0.0348 at the time of writing. Its 24-hour trading volume has notably plummeted 8% to $47.64 million, suggesting a recent fall in market activity. Despite falling 15% in a week, the token has increased 106% in a month and 70% in a year. 

Meanwhile, the Flare Network has recently unlocked the fun. Through the Flare portal, you can manage both Songbird (SGB) and Flare (FLR) network tokens, wrap and delegate them to FTSO data providers, and thereby contribute to the networks’ decentralization and stability. You can also participate in governance voting from this portal.

WFLR unlocks the fun on @FlareNetworks ☀️

Don't let your $FLR sit still.

Use 1-click wrap to bring you more FLR — from FlareDrops, yields, and delegation.https://t.co/Dk2zundJVd pic.twitter.com/0XI0gp3lzT

— Flare ☀️ (@FlareNetworks) December 11, 2024

Moreover, Danrocky has added via X that Multichain is coming to Flare Network in big numbers in 2025. Multichain integrations affect network growth and utility by increasing Liquidity. When networks connect multiple chains, it creates larger pools of liquidity that can flow between different ecosystems. This typically leads to better price efficiency and reduced slippage for traders.

#Flarenetwork: The Layer 1 That Facilitates Unparallel Interoperability. ✨️✨️✨️

Multichain is coming to #Flarenetwork in big numbers in 2025. What does that mean and what are the upsides. This is my take:

Ecosystem projects on #Flarenetwork will be multichain platforms… pic.twitter.com/bGsqNoHqe3

— Danrocky☀️ (@Danrocky) December 10, 2024

Flare Statistical Data

Based on CoinmarketCap data:

• FLR price now – $0.0348
• Trading volume (24h) – $47.64 million
• Market cap – $1.93 billion
• Total supply – 102.8 billion
• Circulating supply – 54.7 billion
• FLR ranking – #75

Flare Price Poised for a Breakout Above the Falling Wedge Pattern

The Flare price trades within the confines of a falling wedge as the bulls are gaining momentum in the 4-hour chart outlook. The price is currently trading at $0.0348 as the wedge structure tightens, indicating that a potential price move is close to happening. The 50-day SMA stands at $0.0373 and acts as immediate resistance, cushioning the bulls against upward movement. On the other hand, the 200-day SMA is at $0.0253 forming strong dynamic support. 

RSI Signals Potential Bullish Breakout in Flare Price

The RSI has rebounded from the 30-oversold region, currently sitting at 47.21. The rising momentum shows that the buyers might regain control, causing the RSI to rise above the 50-mean level. Further, there is room for potential upside before the FLR price is considered overbought.

This also agrees with the bullish nature of the falling wedge, which usually sees the price break out to the upside. Confirmation of a breakout would be manifested with a decisive candlestick close above the $0.0373 mark. The MACD indicator is notably on the verge of making a crossover. This will only manifest if the blue MACD line flips above the orange signal line, reinforcing a bullish outlook.

Flare Price Outlook

Based on the technical outlook, the Flare bulls are poised for a rally above the falling wedge. If the $0.0318 support level holds, a breakout might trigger a rally toward the $0.0373 and $0.04 range. Beyond this, continuous buying pressure may unlock the door toward higher levels, at $0.08

On the downside, if the bears capitalize on the $0.0373 resistance zone, the price might retest the lower boundary of the governing pattern at $0.0318.