Flare Network Prints 181% Volume Spike as USDT0 Goes Omnichain 🔥

Flare Network [FLR] gained 6.67% in the past 24 hours as trading volume jumped 181%, pushing the token past the $0.0072 local supply zone. On-chain analytics outlet AMBCrypto reported the move came as Flare announced that the omnichain deployment of Tether [USDT], known as USDT0, was accessible as a yield through Superform, and that the price bounce coincided with that announcement.

The token's 24-hour move extended a rebound that began after FLR printed a new low of $0.00648 on June 2, breaching the previous swing low of $0.00725. Earlier in June, the relative strength index had slipped below 30, a level typically associated with oversold conditions, while the on-balance volume continued to mark lower lows in the weeks prior.

Fibonacci retracement levels drawn from the $0.01 swing high place a potential relief zone between $0.0087 and $0.0093, implying additional upside of roughly 16%-25% from the cited levels. The $0.00725 swing low has functioned as a contested support-and-resistance area since the start of June, with recent price action flipping the zone back to support.

The 1-day swing structure, however, remains bearish, with the most recent lower low confirmed earlier this month. While the higher-timeframe trend on FLR has not changed, intraday participants have used the short-term momentum to trade the bounce within the broader bearish context.