FLOW is up by 39% following the Instagram partnership

The cryptocurrency market might finish the week in a constructive style after including greater than 1% to its whole worth within the final 24 hours.

The cryptocurrency market has maintained its constructive efficiency over the previous few days. The full market cap is closing in on $1.1 trillion after including greater than 1% to its worth within the final 24 hours.

Bitcoin is buying and selling above $23k as soon as once more after including 1% to its worth to this point as we speak. Ether continues to keep up its worth above the $1,600 psychological stage heading into the weekend.

FLOW, the native token of the Movement blockchain, is the perfect performer amongst the highest 30 cryptocurrencies by market cap. FLOW has added 39% to its worth within the final 24 hours, outperforming the opposite main cryptocurrencies.

The first catalyst behind this rally is the announcement by the Movement group that its partnership with Instagram is now lively.

In a tweet on Thursday, the Movement group mentioned choose customers can now join their Dapper pockets and showcase their favourite NFTs straight on their Instagram account.

Key ranges to look at

The FLOW/USD 4-hour chart is extraordinarily bullish as Movement has been performing excellently during the last 24 hours. The technical indicators present that FLOW is outperforming the broader cryptocurrency market.

The MACD line is deep throughout the constructive zone, indicating bullish momentum. The 14-day relative energy index of 68 exhibits that FLOW is heading in the direction of the overbought area if the constructive momentum could be maintained.

At press time, FLOW is buying and selling at $2.64. If the bulls stay in cost, FLOW might surge previous the $3.05 resistance stage earlier than the tip of the day. Nonetheless, it could want the assist of the broader market to cross the $4 mark for the primary time in practically six months.