Flare Price Prediction: FLR Soars 33% as Google Cloud Joins Network, but time is running out to buy this AI project that shows investors how to find 2,912% returns.

The price of Flare has risen 33% in the past 24 hours, trading at $0.0222 as of 3 AM ET, with volume surging 1,215%.

The notable surge in trading volume follows Google’s announcement indicating plans for Google Cloud to join the Flare network as a validator.

flare onboard @Google Cloud Infrastructure provider that validates the network and contributes to the Flare Time Series Oracle.

The dual role of securing decentralized data delivery through network verification is what makes Flare the blockchain for data. https://t.co/bJF9yX7GrX pic.twitter.com/oGySMD4vVq

— Flare ☀️ (@FlareNetworks) January 15, 2024

Google Cloud joins Flare as a validator

Flare, known as a “blockchain for data” and leveraging Oracle systems to provide developers with access to decentralized data, now uses Google Cloud as a validator. This comes after the cloud division of tech giant Google (GOOGL) joined Flare Blockchain as an infrastructure provider.

In a statement to the news site, Google Cloud pledged to secure the Flare network in a validator capacity while also contributing to the Flare Time Series Oracle (FTSO).

This integration is evidence of the continued adoption of blockchain by tech giants, and now Google has been added to the list.

Flare Price Prediction When FLR Faces 200-Day EMA

After rising 33%, Flare price was rejected by the 200-day exponential moving average (EMA) at $0.0262. This was the aftermath of overbought assets, with FLR’s relative strength index (RSI) causing a correction to 81.

RSI crossing below the 70 level confirmed Welles Wilder’s interpretation of an overbought asset and some traders are expected to start booking profits. If the bears get their way, Flare price could fall further, losing the support provided by the 25-day EMA below $0.1798 and the 50-day EMA at $0.0166.

Failure to hold these levels could lead Flare price to extend its decline towards the $0.0157 support level, while a break above this level of buyer congestion would send FLR price towards the 100-day EMA of $0.0154. Such a move would result in a 30% decline from current levels.

TradingView: FLR/USDT 1-day chart

converse case

On the other hand, judging from the outlook of the AO (Awesome Oscillator) and MACD (Moving Average Convergence Divergence) indicators, there is still an upward trend in the FLR market. Specifically, AO’s histogram bar is blinking green in positive territory and MACD continues to move upward after crossing its signal line (orange band) on January 14th.

It wouldn’t be surprising if this caused the Flare price to recover. If buying pressure increases, there is a possibility that FLR price will overcome the resistance caused by the 200-day EMA and rise towards the $0.0300 psychological level. If we are very optimistic, profits could be estimated as high as $0.0328, 48% above current levels.

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