Flare eyes further losses as assets incentive program launch goes muted
- Flare edges higher after three consecutive days of losses, signaling a potential downfall from a key resistance trendline.
- Flare launches an incentive program with 2.2 billion FLR to boost institutional adoption of DeFi.
- The technical outlook indicates a bearish tilt as the Flare network continues its declining trend.
Flare Network (FLR) edges higher by less than 1% at press time on Wednesday after three consecutive days of trading in the red. The minor recovery aligns with the launch of the FAssets Incentive Program, which includes 2.2 billion FLR tokens. Despite a growth in the fundamental roadmap, the technical outlook for FLR remains bearish.
Flare Network launches FAssets Incentive Program
Flare supports cryptocurrencies without smart contract capabilities, such as XRP, Bitcoin (BTC), and Dogecoin (DOGE), through FAssets. In an attempt to boost DeFi adoption of FAssets at an institutional level, Flare announced on Tuesday the launch of the FAssets Incentive Program.
The incentive program offers 2.2 billion FLR tokens for protocols, assets, and pools based on their impact on Flare’s Total Value Locked (TVL) between July 2025 and July 2026.
Flare struggles to surpass a key resistance trendline
Flare network edges higher by less than 1% at press time on Wednesday, following a 3% drop the previous day. The pullback continues to respect a long-standing resistance trendline formed by connecting the peaks of December 2, January 18, June 2, and June 11.
A potential daily close below the 23.6% Fibonacci level at $0.016, drawn from $0.035 on December 3 to $0.011 on April 8, could extend its decline to the June 22 low at $0.015.
The Moving Average Convergence/Divergence (MACD) indicator on the daily chart shows the MACD line inching closer to its signal line, almost crossing below it, which would provide a sell signal.
The Relative Strength Index (RSI) hovers around 43, below the halfway line, indicating that bears still have the upper hand.
FLR/USDT daily price chart.
To reestablish an uptrend, Flare should close above the resistance trendline near Tuesday’s high at $0.017. In such a situation, FLR could extend its recovery towards $0.019, the high of June 11.
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