Flare Price Prediction: FLR Dives 17% In Latest Crypto Selloff As Investors Flock To This Layer-2 PEPE Derivative For Parabolic Gains

Flare Price Slumps Amid Crypto Crash

The Flare (FLR) price has plummeted by 17% in the past day, currently trading at $0.01966 as of 01:04 a.m. EST.

This decline coincides with a broader cryptocurrency market crash, particularly among altcoins, due to bearish sentiment in the Bitcoin market.

Bullish Developments Overshadowed

Despite recent bullish developments, including Flare's integration with LayerZero V2, the market has remained indifferent. This integration allows Flare to connect with 75 other blockchain networks, enhancing the potential for decentralized applications (DApps).

Price Analysis

FLR's price is trending bearishly, forming a falling parallel channel. The Relative Strength Index (RSI) is below 30, indicating that the token is oversold and a recovery may be imminent. However, confirmation is pending.

Traders should wait for the RSI to break and close above 30 to capitalize on a potential pullback. If the channel's centerline fails as a support, FLR could drop to $0.01500.

Alternative Investment: Pepe Unchained

As FLR continues to slide, experts suggest considering Pepe Unchained (PEPU), a layer-2 meme coin ICO that has raised over $2.3 million in less than three weeks.

PEPU is a meme coin that addresses the shortcomings of meme coins built on Ethereum by introducing its own Ethereum Layer 2 blockchain. This allows for faster transaction speeds, scalability, and efficiency.

Investors can stake PEPU tokens for an annual percentage yield (APY) of 825%.

Conclusion

The Flare price remains under pressure, but bullish developments may provide support. Investors should consider Pepe Unchained as an alternative investment with potential for growth.