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The cryptocurrency market has continued its poor begin to the week, dropping greater than 6% of its worth in the last 24 hours. 

The crypto market has been performing poorly since the begin of the week. The market has misplaced almost 7% of its worth in the last 24 hours, and the whole market cap now stands above the $1.3 trillion mark.

The market has misplaced over $100 billion over the previous few hours, with LUNA’s poor efficiency affecting the broader crypto market. 

Bitcoin is down by greater than 4% over the previous 24 hours and is struggling to keep up its worth above the $30k stage. Ether has dropped to the $2,300 area after dropping greater than 3.5% of its worth in the last few hours.

FLOW, the native token of the Flow ecosystem, is down by greater than 5% over the previous few hours. The poor efficiency comes regardless of the Flow crew asserting the launch of its $725 million ecosystem fund.

In a blog post on Monday, Flow mentioned the Ecosystem Fund would help current and future builders in constructing functions on the Flow blockchain. The builders will acquire investments, FLOW token grants and in-kind help from the crew.

Key ranges to observe

The FLOW/USD 4-hour chart is bearish over the previous few hours as the market continues to underperform. (*24*) the constructive information, FLOW might document additional losses in the coming hours.

The MACD line is past the impartial zone as the bearish sentiment in the market thickens. The 14-day relative energy index of 33 reveals that FLOW is at the moment oversold.

At press time, FLOW is buying and selling at $3.49 per coin. If the bearish pattern continues, FLOW might drop beneath the first main help stage at $3.10 earlier than the finish of the day. 

In the occasion of prolonged adverse efficiency, FLOW might commerce beneath $3 for the first time this yr.