Flare (FLR) Surges as Flare 2.0 Sparks Investor Optimism and Breakout Hopes

• Flare shoots up 5.91% as excitement builds around Flare 2.0s game-changing upgrade
• FLR might climb and mark a strong reversal and signalling potential for continued growth in the coming weeks

Flare (FLR) is making waves again. After months stuck in a downtrend, the token has suddenly come alive, jumping over 5.91% in the past week as excitement builds around the upcoming Flare 2.0 upgrade.

At its peak during the rally, FLR hit $0.01605, marking a 7% single-day surge and pushing its market cap to $1 billion. Trading volume exploded by more than 245% to $26.2 million, with futures open interest rising to $3.1 million—clear signs that traders are piling in.

The buzz started when Flare developers via an X post teased a major overhaul to the network, dubbed . This new version isnt just a routine update—it aims to reshape how Flare operates across multiple blockchains. Instead of simply bridging assets, Flare 2.0 introduces a concept called , which could allow for direct control of protocols on other chains.

While there‘s no launch date yet, traders aren’t waiting. FLRs name started trending on Google, and data from Santiment shows a sharp flip in community sentiment, from cautious to clearly optimistic.

The rally hasnt happened in a vacuum either. Broader markets got a lift this week after the U.S. government pressed pause on its tariff hike plans and lowered reciprocal rates to 10%. This news helped the total crypto market cap rebound 5% to $2.68 trillion. Major altcoins like Ethereum (ETH), XRP, Solana (SOL), and DOGE also saw gains between 7% and 10%, giving FLR a tailwind to ride on.

Flare Breaks Free From Downtrend Channel

From a technical point of view, FLR has gained momentum. The token just punched through the upper boundary of a falling channel thats held it back since December.

This kind of breakout often signals the start of a longer rally. On the daily chart, the MACD just flipped bullish, and the Relative Strength Index (RSI) climbed above the neutral 50 mark—both classic signs that buying momentum is picking up steam.

If FLR can push past its yearly high, the next psychological milestone might be crucial, which was rejected by bulls late last year. However, if the price dips below the trendline again, support could be found between $0.012 and $0.011, which has acted as a key floor in the past.

Flares 70% Bounce Builds on Weekly Strength

Looking at the broader picture, FLRs recent surge started gaining traction on April 7. Thats when it formed a bullish engulfing candle on the weekly chart—often a strong sign of a trend reversal. The token rebounded off the $0.012 support level, forming what analysts are calling a double bottom.

Since then, FLR has climbed its way to the top boundary of a 130-day descending channel. Its now testing that resistance for the third time. If it finally breaks through, the next upside target sits around $0.023, where several technical levels converge.