Flare (FLR) rose 8.8% in one day on Thursday, May 14. The next day, the FAssets v1.3 mainnet upgrade went live.
This upgrade allows Ripple (XRP) users to mint FXRP tokens more easily, through a single XRP Ledger transaction.
This was bullish for the Flare Network, as it facilitates the integration of XRP liquidity into the FXRP ecosystem and increases adoption potential.
Yet, FLR has recently experienced sell-off type price action. It fell 8.3% after hitting a local high of $0.01 on Friday.
The weekly Flare chart signaled an ongoing downtrend. However, some encouraging signs have emerged. The $0.0086 level, which had been a key horizontal level in 2026, was flipped towards support again.
At the same time, the MACD formed a bullish crossover but was still well below the zero line. This indicates a temporary change in dynamics, but warns that the dominant trend for this period was bearish.
OBV has also stopped its fall in recent months, but has not yet reached a new high.
Is the $0.0086 reversal enough to spark a relief rally?
The 4-hour chart shows a strong uptrend in progress. Technical indicators have reinforced the idea of bulls’ strength, although there is potential for a short-term pullback depending on the movement of the MACD.
The $0.0086 level was a near-term demand zone that could be tested in the event of a pullback.
An extended sell-off in the coming week could see FLR fall to the $0.0080 support level.
Traders should remember that the long term trend was bearish. The current rally, if it can get going, would represent a relief rally over a longer period.
Bitcoin (BTC) has fallen below the psychological figure of $80,000. Fears of a broader US market crash could increase volatility in the altcoin market in the coming days.
Final summary
- The FAssets v1.3 mainnet upgrade has become a news selling event at the nearest round resistance.
- Bitcoin’s upcoming price movements will influence FLR’s market sentiment. The altcoin is expected to continue its correction in the short term.
