Flare Network (FLR) saw a slight increase of less than 1% during the Asian session on Wednesday (July 2) after three consecutive days of fall. This minor rebound coincides with the launch of the FAssets incentive program, which includes 2.2 billion FLR tokens. Despite progress in the fundamental roadmap, the technical outlook for FLR remains bearish.
Flare Network launches FAssets incentive program. Flare supports cryptocurrencies without smart contract functionality through FAssets, such as Ripple (XRP), Bitcoin (BTC), and Dogecoin (DOGE). To promote the adoption of DeFi for FAssets at the institutional level, Flare announced the launch of the FAssets incentive program on Tuesday.
The reward program provides 2.2 billion FLR tokens for protocols, assets, and pools based on the impact on the total value locked (TVL) of Flare during the period from July 2025 to July 2026.
FLR struggles to break through the key resistance trend line
As of Wednesday’s press release, the price of Flare Network has increased by less than 1%, while the price fell by 3% the previous day. The pullback is still following a long-term resistance trend line, which is formed by connecting the peaks of December 2, January 18, June 2, and June 11.
If the daily closing price is below the 23.6% Fibonacci level of $0.016 (which was $0.035 on December 3 and $0.011 on April 8), it may continue to fall to the low point of $0.015 on June 22.
The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows that the MACD line is gradually approaching its signal line, crossing just below it, which will provide a sell signal.
The Relative Strength Index (RSI) hovers around 43, below the midpoint, indicating that the bears are still in control.
To re-establish the upward trend, Flare’s closing price should be above the resistance trend line near Tuesday’s high of $0.017. In this case, FLR may continue the rebound momentum until the high of $0.019 on June 11.
(Source: Trading View)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
