FxWirePro- FLRUSD (Chart of the day)

Flare is the blockchain for data. It is a layer 1, EVM smart contract platform designed to expand the utility of blockchain.

The network is built with two open native interoperability protocols: the

State Connector and the Flare Time Series Oracle (FTSO), which allow for the on-chain decentralized acquisition of, respectively, blockchain and time series data. The State Connector

enables decentralized consensus on the state of external blockchains, thus enabling on-chain

acquisition of external blockchain data.

Consensus mechanism-

The Flare Consensus Protocol (FCP) is a new construction of the Federated Byzantine Agreement (FBA) consensus.

FLRUSD has performed well after a long consolidation.

Any daily close above $0.06 confirms further bullishness.

FLRUSD prices have surged more than 75% in the past two weeks. It hit a high of $0.0497 and is currently trading around $0.0445. The pair is holding above the short-term (21 and 55-day EMA) and above the long-term moving average (200-day EMA).

The near-term resistance is around $0.06, any indicative breach above will take the pair to $0.08/$0.10. On the lower side, immediate support is $0.0340, and any violation below targets $0.0280/$0.020.

Indicators ( 4- hour chart)

Directional movement index - Bullish

It is good to buy on dips around $0.0350 with SL around $0.0280 for TP of $0.080.

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