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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.
