Flare Price Surges 6.67%, Trading Volume Jumps 181% in 24 Hours

Flare Network's [$FLR] price surged 6.67% over the past 24 hours, accompanied by a significant increase in trading volume of 181%. This uptrend has led to the altcoin surpassing the $0.0072 local supply zone and opening up potential for an additional 16-25% climb.

The recent price bounce coincided with Flare Network's announcement on X that the omnichain deployment of Tether [$USDT], USDT0, was accessible as a yield through Superform.

From a technical perspective, however, the Flare token's higher timeframe trend remains unchanged. The 1-day chart shows a clear swing structure with a previous swing low at $0.00725, which was breached on June 2nd. This breach led to a new low of $0.00648 before the recent bounce.

The Relative Strength Index (RSI) had fallen below 30 in early June, signaling oversold market conditions, while the On Balance Volume (OBV) made a series of lower lows in recent weeks.