FLOW Continues Upside Momentum, NEAR Breaks Above $5.0 and THETA Above $1.50

FLOW, the native token that powers the Flow blockchain, has surged nearly 50% since Wednesday’s close. The cryptocurrency received a boost on news that Meta Platforms will use the Flow blockchain to expand its non-fungible token (NFT) offerings.

Meta this week announced an international expansion of its digital collectibles features that it successfully piloted on Instagram in May. Meta will now support the Dapper wallet, whose creator Dapper Labs also created the Flow blockchain, as well as the Coinbase wallet.

After nearly hitting $3.0 on Friday, profit taking saw FLOW/USD fall back to just above the $2.70 mark. The $3.0 area appeared to be a resistance zone in the second half of May.

Additionally, profit taking may still see the cryptocurrency slide as low as its 100-day moving average around $2.35, which comes just ahead of support in the form of May lows in the 2 area, $20-30, then late July highs in the $2.15 area. Region.

FLOW/USD chart.

If the cryptocurrency can regain near-term bullish momentum and break above $3.0, the door would be open for a quick rally above $4.0 per token and towards support in the $4.30 area. , which also coincides with the 200DMA at $4.27.

NEAR Protocol (NEAR)

NEAR, the native token that powers the NEAR protocol blockchain, was propelled higher on Friday on technical momentum following a bullish ascending triangle breakout. The cryptocurrency had been in an uptrend since mid-July but struggled to overcome resistance in the $4.70 area.

However, amid a jump of more than 15% on the day on Friday, has now jumped above this resistance zone and is trading at $5.10 per token and is eyeing a test of its 100DMA at 5, $35. According to CoinMarketCap, NEAR has risen 15% in the past 24 hours, making it the best performing cryptocurrency in the top 50 by market capitalization.

NEAR/USD Chart.

At the end of July, the NEAR protocol opened the door to alternative wallet providers.

Theta Network (THETA)

THETA, the native token that powers the Theta Network blockchain, hit its highest level since mid-May on Friday after charging over $1.50 per token level. THETA/USD was last trading with gains of around 12% on the day just below $1.60, although it was admittedly down around 4.0% from the highs of the previous session in the $1.65 zone.

THETA’s latest rally saw it leave its 100DMA at $1.39 in the dust. With the cryptocurrency now having breached its range that had been in play since mid-May, the door is potentially open for a higher run to the next key area of ​​resistance around $2.30, where the 200DMA also resides.

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